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Press release: Minelco changes name and becomes LKAB Minerals

LKAB Minerals Logo
Minelco becomes LKAB Minerals in 2013

With the ambition to build one strong brand covering the global iron & steel and industrial minerals industries, Minelco is aligning itself under the LKAB brand as LKAB Minerals. LKAB Minerals (Minelco) was formed out of LKAB’s special products business and incorporated in 1989.

Bob Boulton, CEO of LKAB Minerals says, “We are immensely proud of the position and market awareness we have created for the Minelco business and brand over the past 24 years. We have gone from being a one mineral company, supplying only iron ore products from the LKAB group mines in the north of Sweden, to being an international multi-mineral company with several unique deposits and with strong supply and customer partnerships around the globe.”

The LKAB corporation gathered all other subsidiaries under the common group brand last year. Being active in mining, construction, concrete production, housing, train haulage, harbour operations, explosives, water powered drilling and now industrial minerals shows the width and variation of LKAB’s competencies and operations.

Lars-Eric Aaro, President and CEO of the LKAB corporation, welcomes LKAB Minerals into the group brand, “Re-branding our industrial minerals division to LKAB Minerals further strengthens LKAB as an attractive international company both for attracting talents and business partners.”

For LKAB Minerals the change of brand is considered a strategically important step in fulfilling the growth and development plans it has. The LKAB brand is looked upon as being a leader in technology, innovation and sustainability. Bob Boulton, CEO of LKAB Minerals continues, , “We are strategically focused on developing business centred around applications we are specialised in, where we can utilise our mineral and processing expertise to the fullest, delivering added value and offering sustainable mineral solutions to customers worldwide.”

Examples of industries LKAB Minerals supplies include; water treatment, ballasting to off-shore construction, heavy dense concrete, refractory and foundries, constructions, polymers, paints, coatings, alloys and more.

The addition of LKAB Minerals with its 360 employees in 13 countries and net sales of 202 MEUR in 2012 in total means that the companies in the LKAB group are active in 14 countries with around 4,000 employees and net sales of SEK 26.97 billion  in 2012.