Edition:
United States

SSAB AB (SSABa.ST)

SSABa.ST on Stockholm Stock Exchange

35.46SEK
12:29pm EDT
Change (% chg)

-0.62kr (-1.72%)
Prev Close
36.08kr
Open
36.05kr
Day's High
36.26kr
Day's Low
35.33kr
Volume
4,434,232
Avg. Vol
5,284,606
52-wk High
40.67kr
52-wk Low
18.01kr

Latest Key Developments (Source: Significant Developments)

SSAB says Swedish Energy Agency invest in carbon-dioxide-free industry initiative
Monday, 27 Feb 2017 03:00am EST 

SSAB AB : The Swedish Energy Agency is investing in a carbon-dioxide-free steel industry . Says Today the agency passed a resolution to finance a 4-year long research project for SEK 102 million . Says research project has been allocated 102 million Swedish crowns, with The Swedish Energy Agency providing SEK 56 million of this amount and the three companies contributing the remaining SEK 46 million. .Says at same time, three companies behind initiative, SSAB, LKAB, and Vattenfall, have decided to form a corporate joint venture to spur on this initiative.  Full Article

SSAB says Oxelosund restart pushed back until early February
Tuesday, 10 Jan 2017 12:51am EST 

SSAB AB : Oxelosund restart pushed back until the beginning of February . Says net production and delivery loss is estimated to total around 70,000 tonnes, which will impact the fourth quarter of 2016 and the first quarter of 2017, with most of the loss impacting the first quarter .It was earlier estimated that the net production and delivery loss would total around 40,000 tonnes.  Full Article

SSAB says breakdown at Oxelosund plant will impact Q4 2016, Q1 2017
Tuesday, 20 Dec 2016 09:00am EST 

Ssab Ab : Production breakdown in Oxelösund to result in further delay . SSAB says unplanned outage will be longer than earlier announced . SSAB says will impact result in q4 of 2016 and q1 of 2017 . SSAB says ssab special steels now plans to restart rolling mill in mid-january . SSAB says net production and delivery loss is expected to total around 40,000 tonnes .The initial estimate, communicated on December 16, was that the breakdown would imply a production and delivery loss totaling around 25,000 tonnes..  Full Article

SSAB invests just over SEK 500 mln in Nordic operations
Monday, 31 Oct 2016 07:37am EDT 

Ssab Ab : SSAB invests in its Nordic operations . Says will invest more than 500 million Swedish crowns ($55.50 million) in its Nordic operations to support automotive growth strategy, increased production stability and reduced energy consumption . Will invest SEK 370 million to modernize the first section of the pickling line at the Hämmeenlinna Works in Finland, to support automotive growth strategy and secure the stable and long-term production of coated strip products . In Lulea, Sweden, an investment of SEK 156 million will be made in a new blower for hot metal production .Says investments are a part of the already communicated capital expenditure program. The projects are planned to start towards the end of 2016.  Full Article

SSAB Q2 core profit beats forecast
Friday, 22 Jul 2016 01:41am EDT 

SSAB : SSAB AB Q2 operating profit was SEK 592 (292) million and excluding items affecting comparability was SEK 668 (301) million . Q2 sales were SEK 14,471 (15,303) million . Reuters poll: Q2 adjusted EBIT seen at SEK 368 million, sales at 14.62 billion . Says during Q3, we expect stable underlying demand, although reflecting normal seasonal slowdown . Says well on way to deliver on our total cost savings target, which is to have reduced cost level by SEK 2.8 billion on an annual basis in 2017 . Says import volumes to Europe are expected to continue to be lower during the third quarter than at the end of 2015 and beginning of 2016 . Says overall, SSAB’s shipments during the third quarter are expected to be lower than during the second quarter, but at a higher price level . Says synergy program was completed at end of Q2, with significantly more synergies realized than SEK 1.0-1.35 billion we had originally communicated . Says in North America, demand for heavy plate is expected to be somewhat lower during the third quarter, mainly due to the normal seasonal slowdown . Says likewise in Europe, demand is expected to be seasonally weaker during the third quarter.  Full Article

SSAB says concludes negotiations to cut workforce in Nordics
Thursday, 2 Jun 2016 03:30am EDT 

SSAB AB : SSAB concludes negotiations to reduce workforce in its nordic operations . Says negotiations just concluded will result in loss of 98 permanent front-line jobs in Oxelosund . Says in addition to this, number of temporary employees will be reduced by 85 persons .Says as communicated earlier, workforce will also be reduced by a total of around 50 office jobs in finland and around 260 in sweden.  Full Article

BRIEF-SSAB rights issue euro conversion is set at 1.13 EUR per share
Tuesday, 31 May 2016 10:38am EDT 

Ssab Ab : The subscription price converted to eur in ssab's rights issue is eur 1.13 per share .The currency conversion rate has been determined and resulted in an amount of EUR 1.13 per share. The conversion rate for the subscription price is based on the European Central Bank EUR/SEK reference rate of 9.2910, which was published at 3.00 pm CEST on May 31, 2016..  Full Article

SSAB sets subscription price to SEK 10.50/share in rights issue
Tuesday, 24 May 2016 02:45am EDT 

SSAB AB : Says to launch a rights issue of approximately SEK 5 billion with preferential rights for existing shareholders . Says shareholders in SSAB are entitled to subscribe for 7 new B shares for 8 old A and/or B shares held . Says subscription price is SEK 10.50 per share . Says SSAB's two largest shareholders, Industrivarden and Solidium, together representing 28.7 per cent of the capital and 29.3 per cent of the votes, have undertaken to subscribe for their pro rata shares of the rights issue . Says for the remaining amount, a syndicate of banks: Crédit Agricole Corporate and Investment Bank, Handelsbanken Capital Markets, Nordea Bank and Swedbank have entered into an underwriting commitment, subject to customary terms and conditions .Says Swedbank Robur and LKAB have, whom together represent 4.4 per cent of the capital and 5.5 per cent of the votes in the Company, expressed their support for the rights issue and their intention to vote in favour of the rights issue at the EGM on May 27, 2016.  Full Article

SSAB AB says number of Swedish job cuts roughly as estimated - Reuters News
Wednesday, 27 Apr 2016 11:40am EDT 

SSAB AB:Says negotiations concluded regarding personnel downsizing among office workers in SSAB's swedish operations.The result of the negotiations will be a reduction of 262 office workers in Sweden.Says when the negotiations began, it was estimated that 265 office workers in Sweden would be reduced.Says downsizing will be carried out through terminations, retirement and natural attrition.Says negotiations have begun regarding front line workers in Oxelosund, and they will be concluded and communicated in May.SSAB announced in February that it had begun negotiations in order to reduce the number of employees in its Nordic operations.  Full Article

SSAB AB launches a rights issue
Friday, 22 Apr 2016 01:15am EDT 

SSAB AB:Resolved to launch a rights issue of class B shares of around 5 billion crowns.Shareholders Industrivärden and Solidium have undertaken to subscribe for their pro rata shares of rights issue.Swedbank Robur and LKAB, together representing 4.4 per cent of the capital and 5.5 per cent of the votes have expressed their support for the rights issue and their intention to vote in favour of the rights issue at the extraordinary general meeting.  Full Article

More From Around the Web