Steel Industry
Stegra faces financial crisis and seeks more support
Maria Karlsson Larawang ginawa ng AI
The Swedish steel company Stegra, building a fossil-free plant in Boden, struggles with delays and cost overruns and now seeks ten billion kronor in new funding. Pension funds like the AP funds have invested hundreds of millions via Al Gore's climate fund, while state support is debated politically. A potential bankruptcy would hit Boden hard but minimally affect pension savers.
Eu plans higher tariffs to protect european steel industry
Iniulat ng AI
The european steel industry is suffering, putting thousands of jobs at risk. The Eu commission plans to raise tariffs on steel imports to protect the sector. This offers relief to the industry but may make car manufacturing more expensive.
Harald Mix steps down as Stegra chairman
Steel company Stegra, building a fossil-free steel plant in Boden, announced on October 20, 2025, that founder Harald Mix is stepping down as board chairman. Mix remains a board member while Shaun Kingsbury takes over the role. The news comes amid a financial crisis where the company needs 10 billion kronor in new capital.