Outokumpu completed the change negotiations related to the restriction of the ferrochrome production
Outokumpu Oyj
Press release
January 18, 2024 at 9.45 am EET
Outokumpu completed the change negotiations related to the restriction of the ferrochrome production
Outokumpu has completed its change negotiations related to the company's plans to temporarily restrict the ferrochrome production by closing one of its three ferrochrome furnaces and one of the two sintering* plants in Tornio, Finland until autumn 2024.
At the start of the negotiations, Outokumpu announced that the planned measures would apply to a maximum of 20 people. The outcome of the negotiations will affect 20 people, some of whom will transfer to new positions within the company, and some will be temporarily laid off. The agreed measures will last until August 2024.
“The temporary closure of one ferrochrome furnace and one sintering plant is a difficult but necessary measure in this market situation. The change negotiations were conducted in good cooperation – thank you to all parties involved in the process,” says Martti Sassi, President, business area Ferrochrome.
Ferrochrome is an alloy between chromium and iron and is an essential raw material in the production of stainless steel.
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 or Outokumpu media phone +358 40 351 9840, e-mail media(at)outokumpu.com
* Preprocessing of ore concentrate
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 approximately 8,500 professionals in close to 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki. www.outokumpu.com
