Ovako and Tibnor partner to advance low carbon footprint steel solutions

The agreement, outlined in a Term Sheet, sets key objectives including:

• Commitment to world-leading low carbon footprint products across all deliveries.
• Reserved capacity by Ovako to supply low carbon footprint products as per Tibnor´s demand.
• Integration of CO2e parameters in relevant specifications.
• Joint market activities to promote low carbon footprint solutions, especially in the Nordic market.

Marcus Hedblom, President and CEO at Ovako, highlighted, "This collaboration underscores our commitment to sustainability and further develop our world leading carbon efficient steel. I believe by collaborating closely with partners to pursue common goals, we can accomplish significantly more.”

Similarly, Fredrik Haglund, President at Tibnor expressed, "Our partnership with Ovako reflects our dedication to reducing carbon footprint across our supply chain. Together with our partners we work continuously for a better tomorrow and to be the natural choice for steel and metals.”

As more industrial players are committing to science-based climate targets and legislators are pushing companies to reduce their emissions or to pay the true cost for pollution, both Ovako and Tibnor recognize decarbonization as a natural competitive advantage as early movers. This collaboration between Ovako and Tibnor signifies a proactive approach towards climate stewardship in the steel industry.