SSAB extends the summer maintenance outage

The decision to extend the normal maintenance outages this year is based on the assessment SSAB made concerning market development. The guidance as issued in connection with the report for the fourth quarter of 2008 (February 11, 2009) have not changed. Capacity utilization and thereby production remain at very low levels.

Through a total stop in production during a number of summer weeks, the inventory build-up, primarily in slab production, can be diminished and tied-up capital can be reduced. The extended summer maintenance outage will reduce SSAB's costs since a larger scale maintenance work can be carried out during the daytime and the need for summer replacement staff will be significantly reduced this year.

The operations in the United States are continuing to produce at low levels and to regularly adjust production to prevailing market conditions. As announced in the report for the fourth quarter, the steel mill in Mobile implements a maintenance outage from the second week of March to the second week of April.

• Production stoppage in the metallurgy in Oxelösund – weeks 27 - 34
• Production stoppage in the rolling operations in Oxelösund – weeks
30 - 33
• Production stoppage in Luleå – weeks 26 - 33
• Production stoppage in Borlänge – weeks 28 - 31

SSAB is regularly monitoring developments on the market and maintains full flexibility to adjust the rate of production to any change in demand.