Oxelösund Sweden based steel processor Proplate Oxelösund announced that its revenue increased to SEK 365 million in 2021/2022 financial year from SEK 225 million for the previous year, corresponding to growth of almost 62%, while profit rose to SEK 19 million. 57% of Proplate’s revenue in the 2021/2022 financial year consisted of exports. Proplate’s CEO Mr Max Björk said “An important factor for the positive financial results was the strong demand from the heavy lifting industry, i.e. manufacturers of lifting cranes, especially in Europe and the US.”Mr Björk added “Steel prices skyrocketed and there is still a major shortage of sheet steel. The reason for this is partly due to the high demand for steel, resulting from the recovery following the pandemic. On the other hand, the shortage in sheet steel is due to the war in Ukraine as both Russia and Ukraine are key suppliers of steel.”Proplate cuts, machines, welds and paints components and assemblies in thick metal plate for customers worldwide. Its production unit in Oxelösund in Sweden is one of the most modern in the world. Customers include Liebherr, Kobelco, Manitowoc, Toyota Material Handling, Epiroc, Metso, Nordex Acciona Windpower and Innovent. Its customized solutions within steel parts and assemblies, wind turbine foundations, crane lifting straps and industrial wear parts are built to integrate seamlessly with our customers’ production chain.