Marcegaglia Fagersta Stainless, a stainless steel wire rod and wire producer in Sweden, planned an investment of SEK 1.1 billion to double its production volume and expand the product range.

The expansion plan was expected to create at least 50 jobs at the Fagersta factory within two years. The current workforce at the plant is roughly 250 people.

The investment would be used to purchase new equipment to increase production and broaden the product range.

Marcegaglia, an Italian steel group, acquired Fagersta Stainless from Outokumpu in January 2023.