OVAKO Group
Long products
Company Overview and Mission
Ovako is a prominent European producer of long, low-alloy, high-performance steel offerings, dedicated to creating steel for a decarbonized society. With a history spanning over a century, exemplified by its Imatra steel mill, the company operates at various sites including Hofors, Hällefors, Smedjebacken, Boxholm, and Hallstahammar. Ovako has been consistently recognized as a 'Career Company,' reflecting its commitment to employee development and an inclusive workplace culture.
Innovative Products and Solutions
Ovako specializes in advanced steel grades designed for demanding applications. Its flagship innovation, Hybrid Steel®, represents a new family of grades that combines the key properties of tool, stainless, engineering, and maraging steels, offering superior strength, weldability, and corrosion resistance. The company has also developed NiKrom III, a next-generation coating for hydraulic piston rods that provides enhanced durability and corrosion resistance without hexavalent chrome. Other notable offerings include IQ-Steel, an alternative to remelted steel, and WR-Steel for wear-resistant applications in harsh environments. Ovako's M-Steel process is designed to enhance machinability, extending tool life and increasing output. The company also produces black bar through a forged-rolled process, achieving outer diameters up to 230 mm. Digital tools like the Steel Navigator and Piston Rod Predictor further support customers in selecting optimal materials and designs.
Commitment to Sustainability and Decarbonization
A core aspect of Ovako's strategy is its strong focus on sustainability. The company has been carbon neutral for all Scope 1 and Scope 2 emissions since January 1, 2022, and is actively investing in new technologies to reduce its reliance on offset mechanisms. A significant initiative is the operation of one of Europe's largest electrolyzers, with a capacity of 20 megawatts producing 8 tonnes of hydrogen per day, projected to cut CO2 emissions by 20,000 tonnes annually. Ovako made history with the world's first successful full-scale trial of using hydrogen to heat steel before rolling, underscoring its leadership in sustainable steelmaking. The company transparently addresses the complexities of 'green steel,' grounding its sustainability claims in factual data.
Workplace Culture and Strategic Partnerships
Ovako fosters a culture of safety, innovation, and continuous improvement. It has achieved significant reductions in its Lost Time Injury Frequency Rate (LTIFR), well below the industry average. The company supports its workforce through apprenticeship programs, a Young Professional Network, and initiatives promoting diversity within the steel industry. Ovako collaborates with leading manufacturers such as Hultafors for axes and wrecking bars, Eleiko for barbells, Kverneland Group for agricultural plows, and Tinsley Bridge Ltd. for automotive components, showcasing the versatility and reliability of its steel products.
