Outokumpu receives EUR 23 million insurance compensation related to its Calvert mill

OUTOKUMPU OYJ
STOCK EXCHANGE RELEASE
March 30, 2016 at 9.15 am EET

Outokumpu has successfully completed negotiations with its insurance companies regarding the machinery breakdown incident at its Calvert mill in the US in 2014. Outokumpu will receive an additional and final insurance compensation of about EUR 23 million and books this in its first-quarter financial results. The gain will be excluded from underlying EBIT.

For more information:

Investors: Johanna Henttonen, tel. +358 9 421 3804, mobile +358 40 530 0778

Media: Saara Tahvanainen, tel. +358 40 589 0223

Outokumpu Group


Outokumpu is a global leader in stainless steel. We create advanced materials that are efficient, long lasting and recyclable – thus building a world that lasts forever. Stainless steel, invented a century ago, is an ideal material to create lasting solutions in demanding applications from cutlery to bridges, energy and medical equipment: it is 100% recyclable, corrosion-resistant, maintenance-free, durable and hygienic. Outokumpu employs 11,000 professionals in more than 30 countries, with headquarters in Espoo, Finland and shares listed in Nasdaq Helsinki. 
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