SSAB becomes full owner of Tibnor

SSAB becomes full owner of Tibnor

SSAB is becoming the full owner of the steel and non-ferrous metals
distributor Tibnor. This is taking place by SSAB, which currently owns
an 85% stake in the company, acquiring Outokumpu's 15% minority stake.

Tibnor is a leading steel and non-ferrous metals distributor in Sweden
and the rest of the Nordic region, and also has a subsidiary in Latvia.

“Tibnor is an important channel for reaching our customers on our Nordic
domestic market and we see that the company possesses good development
potential,” says SSAB's President and CEO Martin Lindqvist.

SSAB is paying EUR 44 million in cash for Outokumpu's 15% stake. The
sale is not expected to impact on customer relations between Outokumpu
and Tibnor, which markets and sells products from many different
suppliers.

For further information, please contact:

Helena Stålnert, EVP, Communications +46 8 45 45 734

Catarina Ihre, Director, Investor Relations +46 8 45 45 729