Outokumpu opens a service centre in Kunshan, China
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Inauguration ceremonies for Outokumpu's new service centre in Kunshan, Jiangsu Province, China are taking place today. Establishment of the service centre supports the Group's strategy of expanding operations in Asia and serving end-user and project customers with value-added special products.
China is the world's fastest-growing market for stainless steel. Analyst estimates (SMR) indicate that national demand for stainless steel will grow by more than 15% in 2010. Outokumpu's offering to the Chinese market consists mainly of special grades, especially duplex grades, developed to satisfy the most demanding applications in the energy, petrochemical, transportation and pulp and paper sectors. The new service centre means that Outokumpu is now well positioned to meet customers' expectations.
CEO Juha Rantanen: "This is an important step in strengthening our position in Asia. As we are now closer to our Chinese customers, we can provide both tailored deliveries and local support in material selection and technical specification. As the global leader in duplex grades, Outokumpu now has a good platform for future growth in China."
Outokumpu has had a presence in China since 1997 and has delivered stainless steel for use in chemical, petrochemical and nuclear power plant facilities as well as chemical tankers and paper mills. Most of the stainless steel processed at the Kunshan service centre is produced at the Group's Avesta and Degerfors sites in Sweden.
Outokumpu service centres stock and process stainless coil and plate to meet specific customer requirements, adding a high level of flexibility in terms of both product dimensions and delivery schedules. The Kunshan service centre has an annual capacity of some 30 000 tons of stainless steel. Processing facilities include a cut-to-length line, a water-jet cutting machine, a plasma portal cutting machine and a laser cutting machine. The investment totalled some EUR 20 million. The service centre employs approximately 50 people. Download pictures from Outokumpu's website.
For further information please contact:
Kell Hansen, VP - Growth Markets, tel +65 9232 8571
Päivi Lindqvist, SVP - Communications & Investor Relations, tel. +358 40 708 5351
OUTOKUMPU OYJ
Outokumpu is a global leader in stainless steel with the vision to be the undisputed number one. Customers in a wide range of industries use our stainless steel and services worldwide. Being fully recyclable, maintenance-free, as well as very strong and durable material, stainless steel is one of the key building blocks for sustainable future. Outokumpu employs some 7 500 people in more than 30 countries. The Group's head office is located in Espoo, Finland. Outokumpu is listed on the NASDAQ OMX Helsinki.www.outokumpu.com