Outokumpu – Competition authorities approved divestment of Long Products units

Outokumpu Oyj
Stock exchange release
December 14, 2022 at 12.30 pm EET

Outokumpu – Competition authorities approved divestment of Long Products units

On July 12, 2022, Outokumpu announced that it would divest the majority of its Long Products business to Marcegaglia, a leading steel processor in the world. The completion of the transaction is subject to, among others, regulatory approvals by the competition authorities.

Outokumpu has now received approvals from all the required competition authorities – the European Commission and the US competition authority.

In addition to the regulatory approvals by the competition authorities, the completion of the transaction is subject to customary closing conditions. Outokumpu expects to complete the transaction in the beginning of next year.  

For more information: 

Investors: Linda Häkkilä, Head of Investor Relations, tel. +358 40 071 9669 

Media:  Päivi Allenius, VP – Communications and Brand, tel. +358 40 753 7374

Outokumpu is the global leader in stainless steel. The foundation of our business is our ability to tailor stainless steel into any form and for almost any purpose. Stainless steel is sustainable, durable and designed to last forever. Our customers use it to create civilization’s basic structures and its most famous landmarks as well as products for households and various industries. Outokumpu employs some 9,000 professionals in more than 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki. www.outokumpu.com