Outokumpu makes substantial donation to the university of Oulu in Finland

PRESS RELEASE

September 5, 2008 at 11.30 am

Outokumpu is donating EUR 200 000 to the University of Oulu's Center for Advanced Steels Research. The center promotes interdisciplinary steel research, education and cooperation with industry. The donation will be used to acquire a new thermal-mechanical simulator (Gleeble system), which is required for development work in steels.

The University of Oulu is an important partner to Outokumpu when it comes to research and education in metallurgy and materials, process and automation technology. About 70 percent of the academically educated personnel at Outokumpu's Tornio Works graduated from the University of Oulu. Further concrete cooperation is also carried out through various projects, doctoral theses and diploma dissertations.

"Close cooperation and dialogue with universities and research centers has always been a fundamental aspect of our stainless steel development work. In order to ensure competitiveness, it's vital that the industry continually invests in new steel grades and improves manufacturing processes," says Executive Vice President Pekka Erkkilä.

The University of Oulu is currently celebrating its 50th anniversary, and Outokumpu's donation will be paid into a fund that has been established to commemorate this special year. Another metal-industry company, Rautaruukki Oyj, is making a corresponding contribution.

For further information, please contact:

Niilo Suutala, SVP - Research and development, Outokumpu Oyj, tel. +358 40 734 1767