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Major Changes at Stegra Following New Ownership

Stegra, a rising name in the green steel sector, has undergone a considerable transformation following its acquisition by a new ownership group and the establishment of a fresh Board of Directors in June. After an intense first 100 days of operations under the new leadership, the company is gearing up to overcome challenges and streamline its projects, particularly the ambitious green steel production initiative in Boden.

Insights from the Initial Review

The newly appointed Board of Directors, alongside external advisers, conducted a thorough assessment of Stegra's operational framework and strategic projects. This evaluation indicated that while the timeline for commencing green steel production remains intact, there is a pressing need to secure additional capital due to a rise in estimated project costs. Factors contributing to these increased costs include the ramp-up expenses associated with the prior scaling back of activities and inflationary pressures that have hit the market.

Leif Johansson, Chair of the Board, expressed optimism despite the financial shortfall, stating, "We always suspected that financing could require adjustment, and now we have a comprehensive understanding of our expenditures. Our outlook on the business opportunities that lie ahead remains strong. We are committed to finding viable funding solutions in collaboration with all stakeholders involved."

New Leadership Direction

In a significant management change, Håkan Buskhe has been selected as the new CEO of Stegra, effective November 1, 2026. He succeeds Henrik Henriksson, who has played a pivotal role in transforming Stegra from an idea into one of Europe’s key industrial projects. While Buskhe assumes the CEO mantle, Henriksson will continue to support the company as an adviser, capitalizing on his extensive project knowledge and experience.

Johansson underscored the importance of Henriksson's ongoing contributions, stating, "Henrik's legacy is invaluable, and Håkan’s proven track record in leading industrial transformations is precisely what Stegra needs at this juncture." Buskhe is anticipated to utilize his extensive experience to drive Stegra through its current challenges and leverage opportunities for growth and innovation.

Future Pathways and Commitment

Stegra is actively engaged in discussions with its major shareholders, who have shown a supportive stance towards securing the necessary funds for project completion. The collaboration with financiers, partners, and stakeholders is being pursued with urgency, and preliminary remarks from the involved parties indicate willingness to back further investments.

Amid these discussions, operations in Boden are progressing as per plan, with commitments to suppliers and customers remaining steadfast.

As Stegra forges ahead into this transformative phase, the leadership team remains resolute in their mission, aiming not only to fulfill operational milestones but also to position the company as a leader in sustainable steel production.

For ongoing updates, stakeholders and interested parties are encouraged to stay connected with Stegra’s communications team, led by Karin Hallstan, for further announcements and developments as they unfold.

Contact for More Information

Karin Hallstan
Head of Communications, Stegra
Email: [email protected]
Phone: +46 76 842 81 04

With a clear operational strategy and resilient leadership, Stegra appears poised to navigate the complex landscape of the green steel industry effectively, contributing to a more sustainable future in industrial practices.