Triton sells Ovako to NSSMC

Triton (Triton) has sold Ovako AB (Ovako) to Nippon Steel & Sumitomo Metal Corporation (NSSMC), with 100% ownership rights.

Triton acquired Ovako coming out of the financial crisis in 2010. During Triton’s seven-year ownership period, the management and board of Ovako have worked together on a number of improvement initiatives with the aim of strengthening Ovako’s position as one of the leading European producers of engineering steel. Key improvement initiatives include clear segment strategies, increased production efficiency, employee safety programs, investment in product development, establishment of a new global sales organization and the launch of digital tools to improve the sales process.

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