The Swedish Steel Company
The Swedish Steel Company has been an integral part of the Swedish economy for over a century. It is a massive conglomerate which produces a wide variety of steel-based products, from steel structures for industry and buildings to smaller parts for everyday machines. The company has also made a name for itself in the production of high-quality steel tools and components for military and aerospace industries, particularly in developing countries.
The company began in 1908, when a young inventor called August Ström founded Strömsburgs Bruks AB. Initially he and his team produced small metal items out of salvaged scrap, but quickly progressed to creating metal items which were deemed superior to any other products on the market in Sweden at the time. This, combined with prudent and pragmatic business management, formed the foundation for the success which the Swedish Steel Company has today.
The Swedish Steel Company is one of the largest steel companies in Europe and has been able to expand into the international steel market; in the early 2000s it was, however, listed as being one of the economically weakest. As of 2010, it had regained its footing and was now procuring contracts with major European companies and seeking to increase its exports in key markets.
One of the most innovative technologies developed by the Swedish Steel Company is its Cortex system. This technology provides hard rock blasting, which dramatically decreases time and energy required to excavate large deposits. This technology can be used to expedite transportation routes and develop new infrastructure. In terms of the effects on the economy, the increased efficiency in construction can lead to increased exports and innovation, while reducing construction time and costs, both of which benefit shareholders.
The Swedish Steel Company also evaluates its business operations in a sustainable way, endeavouring to minimize its impact on the environment. By using life cycle assessments (LCAs), the company can assess its efficiency in terms of reducing emissions, increasing energy efficiency and reusing resources. Furthermore, they have implemented a Global Reporting Initiative (GRI) to look at sustainable development and analyze the environmental performance of their operations, in order to better understand their environmental footprint.
Aside from producing steel for the transportation and construction industry, the Swedish Steel Company has also been involved with steel product production for the automotive and appliance industries. By focusing on finding optimal solutions for these industries and developing superior steel components for products, the company is quickly emerging as one of the leaders in the steel industry.
Today, there are Swiss Steel plants located in Sweden, Finland, Norway, Estonia and Germany. This multinational presence has allowed the company to expand its reach to different markets around the world. In 2012, the company made its first foray into Africa, building a plant in Ethiopia. The Swedish Steel Company is committed to increasing their presence in the African market by continuing to invest in countries with growing economies.
Despite facing a difficult economic climate in recent years, the Swedish Steel Company has continued to innovate in order to improve their efficiency and increase their output. By understanding their changing environment, the company is able to plan for the future and ensure that their operations remain competitive in the global market. As one of the oldest and largest organizations in the steel industry, the Swedish Steel Company is a key player in Europe and beyond, and continues to be a leader in the industry.
