Uddeholms AB has announced it will invest over €11 million (100 million SEK) in the company’s production facility at Hagfors in Sweden.
In order to increase the capacity, and to be able to grow within the market segment of high sophisticated steel grades, the company plans to invest in a new ESR furnace. This will be the ninth ESR furnace that Uddeholm has aquired.
The second part of the investment will enable Uddeholm to move from oil and gas to liquid natural gas (LNG), an alternative energy source which will provide better financial and environmental benefits.
“By converting to natural gas we will reduce our CO2 emission as well as having a positive effect on the upcoming demand for NOx, which is necessary considering the growth plan for the next years to come,” stated the company.