Acroni's new boss Peter Čas told the press that the new line would allow access to new markets, increase supply volumes for existing and new buyers, and enable the development of new products, notably specialised steel.

A key feature of the upgrade, developed together with the German group SMS, is very precise heat regulation that allows the production of more demanding and high-margin products.

SIJ chairman Anton Chernykh said the new line would allow the production of steel for the car, aircraft, mining and other industries, further optimising the company's product mix.

Acroni announced for next year a EUR 30m investment into an argon oxygen decarburization or AOD furnace that will improve the efficiency of production of highly specialised stainless steel.

While the launch of the new line already secured 50 new jobs, another 20 or more are expected due to the AOD furnace.

Parliamentary Speaker Milan Brglez noted at today's official launch that the Jesenice-based Acroni employed 1,100 and the SIJ group more than 7,000 workers.

Stressing its importance for Slovenia' economy, Brglez said this was one of the most internationalised Slovenian companies, whose products were successfully competing on global markets.

Brglez argued the nationality of the owner was irrelevant, as the "key thing is that the company is developing and that a Slovenian brand is being preserved".