SITIZN group, SMS group and SSAB to collaborate in advanced metal coating technology
23.11.2021
SITIZN group, SMS group and SSAB have entered a collaboration agreement to develop an advanced coating technology for metals.
By combining their respective know-how and competencies in the fields of vacuum coating and processing of metal strips, SITIZN group and SMS group founded the joint venture NEOVAC GmbH to develop and commercialize advanced processing solutions for surface coating. The new company is staffed with a team of experts that have longstanding experience in the area of coating technology and will cooperate closely with SMS group GmbH.
The new advanced coating technology aims to use resources with higher efficiency and contributes to SSAB’s strategy to be a pioneer in fossil-free steels and to grow in automotive Advanced High Strength Steels (AHSS).
SITIZN Group Holding AG is a family-held private equity company specialized in investments in the semi-conductor industry and other advanced technologies for thin film and plasma for industrial applications.
SMS group, headquartered in Germany, is a global player and leading company in plant construction and mechanical engineering for the steel and nonferrous metals industry.
SSAB is a highly-specialized global steel company with more than 14,500 employees in over 50 countries, driven by close relationships with the customers. SSAB develops high-strength steels and provides services for better performance and sustainability. The headquarters are located in Stockholm, Sweden.