Outokumpu – Update on impact of the recent technical issues in Calvert and market development
OUTOKUMPU OYJSTOCK EXCHANGE RELEASEDecember 10, 2014 at 12.00 pm EET As communicated earlier Outokumpu’s stainless steel mill in Calvert, Alabama, USA has experienced technical issues in all of its three cold rolling lines during the past six months. This has had a negative impact on customer deliveries and increased costs. Following the damage calculations and discussions with the insurance company, the cost impact of the incident is estimated at EUR 34 million in 2014 which will be partly covered by insurance still this year. Beyond 2014, the discussions with the insurer are ongoing.