Outokumpu - Tubinoxia becomes majority shareholder in the OSTP tubular joint venture
Outokumpu - Tubinoxia becomes majority shareholder in the OSTP tubular joint
STOCK EXCHANGE RELEASE
January 18, 2013 at 9.00 am EET
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 Outokumpu decided to exit
from the tubular business as part of its restructuring program. Outokumpu
remains as a minority shareholder with a 49% stake in the joint venture.
The consideration and cash flow impact of this transaction are marginal.
For further information:
Tamara Weinert, Investor Relations
tel. +358 9 421 2438, mob. +358 40 751 7194
Saara Tahvanainen, Media Relations
tel. +358 9 421 3265, mob. +358 40 589 0223
OSTP and Tubinoxia:
Kalle Luoto, OSTP
tel. +358 40 552 9682
Andrea Gatti, Tubinoxia
tel. +39 335 606 4896
Outokumpu is the global leader in stainless steel and high performance alloys.
Our advanced materials are the ideal choice for demanding applications ranging
from cutlery to bridges, energy plants to medical equipment. Stainless steel
contributes to a sustainable and long lasting world as it is a 100% recyclable,
corrosion-resistant, maintenance-free, durable and hygienic material. Outokumpu
employs approximately over 16 000 professionals in over 40 countries, with the
Group’s head office in Espoo, Finland and shares listed on the NASDAQ OMX