Regulatory press releases

SSAB obtains Investment Canada clearance for its acquisition of IPSCO

July 16, 2007 8:40 CEST 6 min read

Stockholm, Sweden, 16 July, 2007 -- SSAB Svenskt Stål AB (SSAB) announced today that it has received approval of its application for review of its acquisition of IPSCO Inc. (IPSCO) from the Canadian Minister of Industry under the Investment Canada Act.

In connection with the approval under the Investment Canada Act, SSAB made commitments to the Minister of Industry that highlight the net benefit to Canada that will arise from the acquisition. These include commitments to increase funding for the IPSCO Research Centre in Regina, Saskatchewan, and to complete the upgrade of the Regina spiral pipe mill. SSAB will also consider implementing additional capital projects in Saskatchewan and Alberta. The head office of the Canadian operations will remain in Regina, Saskatchewan.

SSAB President and CEO Olof Faxander said: "We are very pleased that all the regulatory clearances required to complete our acquisition of IPSCO have been obtained. We are confident that the combination of IPSCO and SSAB will benefit all stakeholders, including both companies' customers, employees, suppliers and the provinces and communities where IPSCO carries on business today.

This press release is for information only and does not constitute an offer to issue or sell, or the solicitation of an offer to acquire, securities in any jurisdiction.
This press release contains forward-looking statements. Actual results could differ materially from the future results expressed or implied by these forward-looking statements due to factors that cannot be controlled or estimated precisely. The forward-looking statements speak only as of the date of this press release. SSAB does not undertake any obligation to revise these forward-looking statements to reflect events or circumstances after the date of this press release.

For more information about SSAB, log on to http://www.ssab.com
For more information about IPSCO, log on to http://www.ipsco.com

For more information please contact:
Corporate Communications SSAB
Tommy Lofgren at +46 70-525 94 14
[email protected]

Investor Relations SSAB
Stefan Lundewall at +46 70-508 28 57
[email protected]

May 31

Customer story

Gsodam reduced timber trailer weight by 20% with Strenx® steel

Since switching to SSAB’s Strenx® 700MC E steel, Gsodam, an Austrian manufacturer of vehicles for timber transports, has reduced trailer weight by up to 20 percent. The result of building light and durable is timber trailers with increased load capacity.

May 30

Other news

Ruukki upgrades load-bearing sheet production line in Anderslöv, Sweden

Ruukki Construction, part of the SSAB Group, has upgraded its load-bearing sheet production line in Anderslöv, Sweden, and can now also supply its customers with stronger T130M load-bearing profiles in addition to the former T130 profiles. The investment of approximately SEK 4 million in the improvement of the production line strengthens Ruukki’s ability to supply strong and light micro-profiled roof structures for customers’ commercial and industrial buildings, especially in the Nordic countries.

May 30

Other press releases

SSAB underlines the need for green standards at the TTC meeting in Luleå, Sweden

The EU-US Trade and Technology Council (TTC) meeting within the framework of the Swedish EU presidency takes place in Luleå, Sweden, on May 30-31 with, among other things, visits to SSAB and Hybrit. During the two days, SSAB highlights the importance of continued good conditions for the green transition, including the need for Europe, together with the US, to develop ambitious green standards that support the transition of the steel industry globally.