Outokumpu received a positive court decision in a claim in Spain related to old divested copper businesses

Outokumpu Oyj
Press release
March 3, 2021 at 2:50 pm EET

Outokumpu received a positive court decision in a claim in Spain related to old divested copper businesses  
 

Outokumpu divested its copper businesses in 2003–2008. One of the divested companies, domiciled in Spain, later faced bankruptcy. The administrator of the bankrupt company filed a claim against Outokumpu Oyj and two other non-Outokumpu companies for recovery of payments made by the bankrupt Spanish company in connection with the divestment.

In 2014, the court of the first instance in Spain accepted the claim of EUR 20 million brought against Outokumpu and the two other companies. In 2018, the Court of Appeal ruled the case in favor of Outokumpu.

The Spanish Supreme Court has now ruled the case in favor of Outokumpu and released Outokumpu from all claims and liabilities. All legal cases against Outokumpu related to the recovery have now been closed.

For more information:

Media: Corporate Communications, tel. +358 9 421 3840

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

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 some 10,000 professionals in more than 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki. www.outokumpu.com