Latest news with #SSAB
Business Standard
4 days ago
- Business
- Business Standard
Steelmaker SSAB, the Manufacturer of Hardox® Wear Plate, Cracks Down on Trademark Infringement in India
PRNewswire Mumbai (Maharashtra) [India], May 27: Swedish steelmaker SSAB has successfully taken action against two India-based companies found dealing in counterfeit Hardox® steel plates. These unauthorised products, bearing the Hardox® trademark and SSAB logo, included falsified product mill certificates and exhibited severe product quality issues, making them incomparable to genuine Hardox® wear plate. Nonetheless, they were misrepresented as genuine Hardox® wear plate. Following an investigation and a lawsuit, Naresh Steel & Engineering Co. and Parmar Steel admitted to trademark infringement and passing off, both serious violations of SSAB's intellectual property rights. The companies not only paid exemplary damages but also faced a permanent injunction in the lawsuit, and were directed to cease all use of the infringing marks. Additionally, they issued unconditional public apologies to SSAB and committed to ceasing such activities in the future. In their apologies, Naresh Steel and Parmar Steel acknowledged that "trademark infringement and passing off are gross violations of intellectual property rights of SSAB" and offered "an unconditional apology." Protecting customers from counterfeit products Only the Swedish steel manufacturer SSAB produces genuine Hardox® wear plate, and Hardox® wear plate is only available from SSAB and from SSAB-certified suppliers. Each month, SSAB successfully removes hundreds of website links, online marketplace advertisements such as those on Indiamart, and social media pages offering counterfeit products or falsely claiming to stock genuine Hardox® wear plate. "In the Mumbai area alone, there are a significant number of traders who falsely claim to stock Hardox® steel", says Subodh Shinde, country head of SSAB Steel India. "Our primary goal is to protect end customers from the risks associated with substandard steel, as these can lead to severe operational, financial and safety consequences, and we therefore continue to aggressively enforce our trademark rights and take legal action against any company infringing our intellectual property." Hardox® wear plate is a premium, high-quality product known for its exceptional hardness and toughness. Its guaranteed properties deliver outstanding performance, making it a market leader in wear resistance--and naturally, not a low-cost option. Therefore, a simple guiding principle is that if a deal seems too good to be true, it likely involves counterfeit steel. Extremely low prices are a red flag that the product is not genuine Hardox® wear plate. SSAB strongly encourages buyers to purchase Hardox® wear plate only from SSAB-certified suppliers, who hold the exclusive rights to distribute its products. Where to buy genuine Hardox® wear plate and wear parts in India SSAB maintains its own sales network. To ensure product authenticity, Hardox® wear plate should only be purchased through the following authorised SSAB channels: * SSAB's own local stocks in India or SSAB's mills: +91 22 6673 0265, email: * Kamlesh Metal & Alloy, the sole distributor of SSAB's products in India Hardox® wear parts should only be purchased through our authorised Hardox® Wearparts Centers in India. An updated list of all authorised centres is available on the Hardox® Wearparts Center website: Reporting counterfeit steel At SSAB, we are committed to ensuring that customers receive only high-quality, genuine Hardox® wear plate they can trust. If you encounter branded steel that you suspect is not genuine Hardox® wear plate, we urge you to contact your local SSAB sales team immediately. The risks of buying from unauthorized sources Buying from unauthorised sources may result in: * Operational setbacks - Counterfeit steel often has lower quality and therefore lower durability, leading to frequent repairs, replacements and increased maintenance costs. * Health and safety risks - Inferior materials may compromise structural integrity, increasing the risk of failures and accidents. * Legal repercussions - The use of counterfeit steel could lead to litigation, fines or other regulatory consequences. * Environmental impact - Counterfeit production methods often neglect sustainability standards, leading to increased contamination and waste. SSAB is a Nordic and US-based steel company that builds a stronger, lighter and more sustainable world through value added steel products and services. Working with our partners, SSAB has developed SSAB Fossil-free™ steel and plans to reinvent the value chain from the mine to the end customer, largely eliminating carbon dioxide emissions from our own operations. SSAB Zero™, a largely carbon emission-free steel based on recycled steel, further strengthens SSAB's leadership position and our comprehensive, sustainable offering independent of the raw material. SSAB has employees in over 50 countries and production facilities in Sweden, Finland and the US. SSAB is listed on Nasdaq Stockholm and has a secondary listing on Nasdaq Helsinki. Join us on our journey! Facebook, Instagram, LinkedIn, X and YouTube.
Yahoo
5 days ago
- Business
- Yahoo
Steelmaker SSAB, the Manufacturer of Hardox® Wear Plate, Cracks Down on Trademark Infringement in India
MUMBAI, India, May 27, 2025 /PRNewswire/ -- Swedish steelmaker SSAB has successfully taken action against two India-based companies found dealing in counterfeit Hardox® steel plates. These unauthorised products, bearing the Hardox® trademark and SSAB logo, included falsified product mill certificates and exhibited severe product quality issues, making them incomparable to genuine Hardox® wear plate. Nonetheless, they were misrepresented as genuine Hardox® wear plate. Following an investigation and a lawsuit, Naresh Steel & Engineering Co. and Parmar Steel admitted to trademark infringement and passing off, both serious violations of SSAB's intellectual property rights. The companies not only paid exemplary damages but also faced a permanent injunction in the lawsuit, and were directed to cease all use of the infringing marks. Additionally, they issued unconditional public apologies to SSAB and committed to ceasing such activities in the future. In their apologies, Naresh Steel and Parmar Steel acknowledged that "trademark infringement and passing off are gross violations of intellectual property rights of SSAB" and offered "an unconditional apology." Protecting customers from counterfeit products Only the Swedish steel manufacturer SSAB produces genuine Hardox® wear plate, and Hardox® wear plate is only available from SSAB and from SSAB-certified suppliers. Each month, SSAB successfully removes hundreds of website links, online marketplace advertisements such as those on Indiamart, and social media pages offering counterfeit products or falsely claiming to stock genuine Hardox® wear plate. "In the Mumbai area alone, there are a significant number of traders who falsely claim to stock Hardox® steel", says Subodh Shinde, country head of SSAB Steel India. "Our primary goal is to protect end customers from the risks associated with substandard steel, as these can lead to severe operational, financial and safety consequences, and we therefore continue to aggressively enforce our trademark rights and take legal action against any company infringing our intellectual property." Hardox® wear plate is a premium, high-quality product known for its exceptional hardness and toughness. Its guaranteed properties deliver outstanding performance, making it a market leader in wear resistance—and naturally, not a low-cost option. Therefore, a simple guiding principle is that if a deal seems too good to be true, it likely involves counterfeit steel. Extremely low prices are a red flag that the product is not genuine Hardox® wear plate. SSAB strongly encourages buyers to purchase Hardox® wear plate only from SSAB-certified suppliers, who hold the exclusive rights to distribute its products. Where to buy genuine Hardox® wear plate and wear parts in India SSAB maintains its own sales network. To ensure product authenticity, Hardox® wear plate should only be purchased through the following authorised SSAB channels: SSAB's own local stocks in India or SSAB's mills: +91 22 6673 0265, email: Kamlesh Metal & Alloy, the sole distributor of SSAB's products in India Hardox® wear parts should only be purchased through our authorised Hardox® Wearparts Centers in India. An updated list of all authorised centres is available on the Hardox® Wearparts Center website: Reporting counterfeit steel At SSAB, we are committed to ensuring that customers receive only high-quality, genuine Hardox® wear plate they can trust. If you encounter branded steel that you suspect is not genuine Hardox® wear plate, we urge you to contact your local SSAB sales team immediately. The risks of buying from unauthorized sources Buying from unauthorised sources may result in: Operational setbacks – Counterfeit steel often has lower quality and therefore lower durability, leading to frequent repairs, replacements and increased maintenance costs. Health and safety risks – Inferior materials may compromise structural integrity, increasing the risk of failures and accidents. Legal repercussions – The use of counterfeit steel could lead to litigation, fines or other regulatory consequences. Environmental impact – Counterfeit production methods often neglect sustainability standards, leading to increased contamination and waste. SSAB is a Nordic and US-based steel company that builds a stronger, lighter and more sustainable world through value added steel products and services. Working with our partners, SSAB has developed SSAB Fossil-free™ steel and plans to reinvent the value chain from the mine to the end customer, largely eliminating carbon dioxide emissions from our own operations. SSAB Zero™, a largely carbon emission-free steel based on recycled steel, further strengthens SSAB's leadership position and our comprehensive, sustainable offering independent of the raw material. SSAB has employees in over 50 countries and production facilities in Sweden, Finland and the US. SSAB is listed on Nasdaq Stockholm and has a secondary listing on Nasdaq Helsinki. Join us on our journey! Facebook, Instagram, LinkedIn, X and YouTube. Photo - - - View original content:
CNN
20-05-2025
- Business
- CNN
Forging Europe's green steel revolution
Steel is one of the world's dirtiest industries, but as CNN's Marketplace Europe reveals from eco-summit ChangeNOW, a seismic shift is underway - one being pushed by Swedish giant SSAB.
CNN
20-05-2025
- Business
- CNN
Forging Europe's green steel revolution
Steel is one of the world's dirtiest industries, but as CNN's Marketplace Europe reveals from eco-summit ChangeNOW, a seismic shift is underway - one being pushed by Swedish giant SSAB.
Yahoo
30-04-2025
- Business
- Yahoo
European steelmakers flag trade and price risks despite quarterly earnings beats
By Anna Peverieri and Alban Kacher (Reuters) -Europe's top steelmakers showed more resilience than expected in their first-quarter earnings, but warned that global trade tensions, weak European prices and market volatility are clouding the outlook for the rest of the year. ArcelorMittal, which reported on Wednesday a smaller-than-expected drop in its quarterly core profit, flagged trade disruptions as a risk to its 2025 steel demand forecasts, particularly in the U.S. and China, sending its shares down more than 5%. "Heightened uncertainty around the terms of global trade is hurting business confidence and risks causing further economic disruption if not quickly resolved," the CEO of the world's number two steelmaker Aditya Mittal said, echoing concerns raised by Swedish rival SSAB. SSAB, which also reported a smaller-than-expected drop in earnings on Tuesday, said the proximity of its facilities to customers, and specialised products helped cushion the immediate impact of new U.S. tariffs, but warned of a "more uncertain than usual" second-quarter outlook in its steel division. The results of Luxembourg-based steel group Aperam also came slightly above expectations on Wednesday, which it credited to higher volumes in Europe and the contribution from the consolidation of its U.S.-based business. Aperam, which makes stainless and speciality steels and alloys, operates mainly in the EU and Brazil, and has limited exposure to the U.S. market. The group warned that pricing pressure would weigh further on its earnings in the second quarter, though it should improve compared to the previous three months' performance. However, its admission that it was difficult to provide an outlook for the quarters further ahead sent its shares down in early trading. "Reliable projections for the remainder of the year are challenging in the current volatile environment," group CEO Timoteo Di Maulo said. According to Oddo-BHF analyst Maxime Kogge, second quarter could bring some relief with trade restrictions expected to lift prices, European players further reducing their exposure to China, and restructuring efforts paying off. However, a mix of high energy costs, competition from cheap Chinese producers and higher tariffs on exports to the United States loom large over the European steel industry at a time when the global market already grapples with excess capacity. "Global steel excess capacity is expected to continue rising, (...) fuelled by cross-border investments by Chinese steel companies," the Organisation for Economic Co-operation and Development said in a report earlier this month. ArcelorMittal offered a mixed assessment of its Asian markets. It expects the strong demand trends in India to continue to play out supported by the new 12% safeguard Indian duty on steel imports, notably from China. In China, however, the group expects low steel spreads - the margin between steel prices and production costs - to persist due to overcapacity. Despite its cautious tone, ArcelorMittal reaffirmed its 2025 investment plans and noted a rebound in European steel spreads, supported by the European Commission's Steel and Metals Action Plan, trade barriers against imports and an expected rise in Germany's spending on infrastructure. Other European steel companies, Finland-based Outokumpu Oyj and Spain's Acerinox are due to report their first-quarter results on May 8.
