at the very Core of it all … is Content!
• Annual capacity of one million tons of stainless steels • Plant produces stainless steel grades up to AISI 400 At the beginning of April, Siemens Metals Technologies received the final acceptance certificate for the stainless steel works owned by Outokumpu Stainless in the USA. The plant was constructed in Calvert, Alabama, and went into …
Outokumpu has started a strategic review of its high performance alloys or VDM business unit. During this review, Outokumpu will evaluate strategic options for VDM and consider how best to drive continued growth and profitability for the business, within or outside of Outokumpu. Says Outokumpu CEO Mika Seitovirta: “Given the challenging economic and market environment, …
Outokumpu Oyj and Carrier Corporation have signed a settlement agreement that covers all damage suits against Outokumpu by Carrier in the US and UK pursuant to the European Commission’s industrial tubes cartel decision of 2003. The total settlement amount is around 10 million euros. The settlement covers also all former Outokumpu subsidiaries included in the …
Highlights of the first quarter 2013 The first quarter 2013 closed with lower underlying EBIT losses versus the fourth quarter 2012 despite the challenging environment and weaker than anticipated seasonality support. During the first quarter of 2013, global stainless steel demand declined by 1.2% compared to Q1 2012. European stainless steel base prices increased by …
As part of its intention to significantly reduce its operating expenses and return the company to profitability, Outokumpu has today announced plans that are expected to result in job reductions. All in all, Outokumpu expects to reduce up to 2,500 jobs globally between 2013 and 2017. In 2013, company plans to reduce up to 770 …
The Board of Directors of Outokumpu has today at its first meeting appointed two permanent committees consisting of Board members – the Audit Committee and the Remuneration Committee. Members to the Board Audit Committee were elected as follows: Olli Vaartimo (chairman), Markus Akermann, Heikki Malinen and Siv Schalin. Members to the Board Remuneration Committee were …
Outokumpu Oyj’s Annual General Meeting 2013 was held today in Helsinki, Finland. The Annual General Meeting approved the financial statements and discharged the administrative bodies of the company from liability for the financial year 2012. The Meeting decided that no dividend be paid for 2012 and approved the proposals regarding the authorization to the Board …
In December 2012, Outokumpu completed the Inoxum transaction and implemented a new company structure. As of December 29, 2012 Outokumpu has four business areas that provide the full range of stainless steel as well as high performance alloys: Stainless Coil EMEA Stainless Coil Americas Stainless APAC and High Performance Stainless & Alloys. The business areas …
Outokumpu Oyj and Outotec Oyj have entered into a legal dispute over invention rights related to a ferrochrome production method. Outokumpu has made the invention and has filed the patent applications related to this invention regarding the production of ferrochrome nickel. Outotec is alleging to have rights to the invention and has submitted an application …
Outokumpu’s partner in the OSTP tubular joint venture, Tubinoxia S.r.l. has exercised its call option and acquired additional 15% of the joint venture’s shares from Outokumpu. Tubinoxia, an Italian company controlled by Andrea Gatti, has thus increased its ownership in OSTP from 36% to 51%. The OSTP joint venture was formed in July 2011 when …