The Stockholm, Sweden-based steel manufacturer SSAB has opened a new R&D facility adjacent to its steel mill in Montpelier, Iowa.
The $11 million investment is part of SSAB's effort to be "a global leader in advanced steels," the company said.
The 25,000-square-foot facility "houses some of the most cutting-edge testing, simulation and metallographic equipment in the world," according to the company. The facility is staffed by 13 research engineers and technicians.
"The new facility will improve our ability to service our customers further," said Olof Faxander, president and CEO of SSAB. "As we respond to our customers' increasing demands to address new technical challenges and product development, we solidify our position as a world leader in the supply of advanced high-strength steels."