Faxander targets ramp-up of Ipsco’s AHSS stance
Nov 29, 2007 | 06:29 AM
| Scott Robertson
After taking a hand in leading Svenskt Stal AB's bold takeover of Ipsco Inc., Lisle, Ill., Olof Faxander is set on making Ipsco a world leader in the production and development of advanced high-strength steels (AHSS), primarily in plate applications.
Faxander, president and chief executive officer of SSAB, said Ipsco is a good fit with the Stockholm, Sweden-based steelmaker because of its new parent's focus on high-strength steels. And while SSAB has an extensive sales network in North America, the company is short on the plate capacity required to continue to grow in this area, he added.
Ipsco's approximately 4-million-ton-a-year plate manufacturing capacity out of Montpelier, Iowa, and Mobile, Ala., helped change that and was a key factor in SSAB agreeing to acquire the company in July for about $7.7 billion (AMM, July 19).....
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