March 9, 2018 / 7:14 AM / 6 months ago

BRIEF-SSAB comments on impact of U.S. steel tariffs

March 9 (Reuters) - SSAB AB:

* US STEEL TARIFFS HAVE TWOFOLD IMPACT ON SSAB

* SAYS OUR AMERICAS DIVISION HAS A PRODUCTION CAPACITY OF 2.4 MILLION TONS OF STEEL AT OUR US MILLS IN IOWA AND ALABAMA. THESE VOLUMES ARE EXCLUDED FROM THE TARIFFS

* SAYS US STEEL PRODUCTION IS SUPPLEMENTED WITH SPECIAL, HIGH-STRENGTH PRODUCTS FROM SWEDEN AND FINLAND THAT ARE NOT PRODUCED IN OUR NORTH AMERICAN PRODUCT LINES. IN 2017, THESE EXPORTS TOTALED AROUND 250,000 TONNES

* SAYS ‍WE WILL INVESTIGATE IMPACT TO OUR BUSINESS AND DISCUSS WITH OUR CUSTOMERS BEST WAY TO GO FORWARD GIVEN YESTERDAY’S ANNOUNCEMENT​

* SAYS OUR NORDIC EXPORTS INTO THE US ARE TRADED FAIRLY, FOLLOWING ESTABLISHED INTERNATIONAL RULES OF TRADE, AND WE HAVE ENJOYED A POSITIVE TRADE RELATIONSHIP FOR MANY YEARS

* SAYS WE THEREFORE WILL BE ENGAGING WITH US GOVERNMENT OFFICIALS TO ADVOCATE FOR THE PRESERVATION OF THIS IMPORTANT US-NORDIC TRADE RELATIONSHIP.

* SAYS IF EXEMPTIONS ARE NOT GRANTED, WE WILL CONTINUE TO EVALUATE ALL ASPECTS OF OUR AMERICAN BUSINESS – FROM PRICING AND INVESTMENTS TO LOGISTICS AND OPERATIONS – TO ENSURE OUR BUSINESS REMAINS PROFITABLE AND BEST POISED FOR FUTURE GROWTH Source text for Eikon: Further company coverage: (Stockholm Newsroom)

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