SSAB inks Snop deal, receives funding for transition
SSAB and automotive supplier Snop have entered into a long-term partnership for future deliveries of fossil-free steel, Kallanish learns from the Swedish steelmaker.
The Groupe Financière SNOP Dunois (FSD) is a privately owned major tier-one automotive supplier with established relationships with all European OEMs. It is divided into three divisions – Snop, Smom and Balconi – and employs over 8,200 people in 12 countries at 36 production sites and four technical centres. Groupe FSD supplies body structure stampings, roll-formed parts and assemblies for cars and commercial vehicles, as well as stamping dies and automatic presses.
According to SSAB, the partnership will help Snop to meet its target to reduce CO2 emissions by 30% by 2030. The partners did not provide details on tonnages or supply duration.
SSAB also says it will be granted SEK 1.45 billion ($133 million) under the EU’s Just Transition Fund (JFT). The funding will contribute to the transformation to fossil-free steel production at SSAB’s operations in Luleå.
The funding from the EU involves the Swedish Agency for Economic and Regional Growth, and “is a clear signal about the importance of our transformation”, says SSAB chief executive Johnny Sjöström.
The JFT focuses on industries and regions with high carbon dioxide emissions. In Sweden’s national programme for the JFT, the eligible sectors are the steel, metals and cement industries.
Christian Koehl Germany
