Outokumpu to divest its Stainless Welding operations
Outokumpu has today signed an agreement to sell its Stainless Welding business, Avesta Welding, including its distribution channels, to Böhler-Uddeholm of Austria. The Welding business has its main operations in Sweden, Indonesia and in the US and employs approximately 160 people. Net sales for the business in 2004 were some EUR 38 million. The closing of the transaction is subject to customary regulatory clearances.The Avesta Welding product portfolio consists of welding consumables and chemicals for joining and surface finishing, including post-weld treatment, for stainless steel.The