Latest news with #AlleimaAB
Mint
6 days ago
- Business
- Mint
Swedish Steelmaker Alleima Sees Pricing as Counter to US Tariffs
The chief executive officer of Swedish steelmaker Alleima AB says the company will not absorb any potential costs from tariffs and will instead focus its efforts on raising prices, as well as targeting specific industries. Speaking in an interview, Goran Bjorkman, 59, said Alleima is doubling down on nuclear tubing offerings having last year decided to expand its steam-tube manufacturing in Sandviken, Sweden. In January, the nuclear division booked two major orders, one worth 530 million kronor . Decreasing the company's exposure to less cyclical sectors is seen by Bjorkman as helping safeguard Alleima's profitability in volatile times. Analysts have cited the impact of US tariffs as a headwind for the group given around a quarter of its sales are in North America. Another area of focus is Alleima's products aimed at the health-care and medical industries, where the company still only has a small market share. 'It is a market which is growing very rapidly and a lot of countries are investing more in health care than ever before,' Bjorkman said, highlighting how its Kanthal unit's medical arm has quadrupled sales in the past five years. Another threat facing the company's profitability in the near term is the strengthening Swedish krona, which is up 16% against the US dollar this year. Analysts at DNB Carnegie earlier this year warned in a note that that currency effects at Alleima might present about 9% downside to 2025 earnings. As with the 'pretty extreme' trade policies coming out of the US, Bjorkman said the effects of the krona were proving hard to offset in the short term. 'I'm certain we can handle parts of it, for example via our footprint, but particularly on pricing,' the CEO added. This article was generated from an automated news agency feed without modifications to text.
Bloomberg
28-01-2025
- Bloomberg
Sweden's 17th Century Warship Retrofitted by Steelmaker Alleima
Sweden's Vasa, among the world's best preserved wrecks from the 17th century, will receive a custom-made steel skeleton from Alleima AB to ensure its structural integrity for the coming decades. The ship has become one of the country's most popular tourist attractions having been salvaged in 1961, some 333 years after sinking on its maiden voyage in the Stockholm harbor. While the 69-meter (226-foot) vessel was well protected from falling apart in the brackish water of the Baltic Sea, exposure to the air in the museum is speeding up its deterioration.
