Outokumpu has completed the divestment of its remaining Long Products business in Sweden

Outokumpu Oyj
Press release
August 1, 2023 at 3.30 pm EEST

Outokumpu has completed the divestment of its remaining Long Products business in Sweden

Outokumpu announced on April 1, 2023 that it would divest its remaining Long Products business in Degerfors and Storfors, Sweden. This announcement followed the divestment of the majority of the Long Products business in the beginning of the year. Outokumpu has now completed the divestment of the remaining Long Products business in Degerfors and Storfors to Cogne Acciai Speciali.

Outokumpu has therefore exited the long products business. The company now focuses fully on its core business, stainless steel flat products and ferrochrome. Outokumpu’s plate operations in Degerfors are not affected by the divestment.

The enterprise value of the transaction is EUR 12 million and it has a positive cash impact for Outokumpu. Outokumpu books a loss of approximately EUR 30 million for the third quarter. The amount of the book loss is still subject to final consideration, closing accounts and accumulated translation difference.

For more information:

Investors: Linda Häkkilä, Head of Investor Relations, tel. +358 400 719 669

Media: Päivi Allenius, VP – Communications & Brand, tel. +358 40 753 7374 or Outokumpu media desk, +358 40 351 9840

Outokumpu Oyj

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