Outokumpu restarts the third ferrochrome furnace earlier than planned but continues to optimize ferrochrome production capacity
Outokumpu Oyj
Press release
January 19, 2023 at 9.05 am EET
Outokumpu restarts the third ferrochrome furnace earlier than planned but continues to optimize ferrochrome production capacity
On February 15, 2023, Outokumpu will restart one of its three ferrochrome furnaces. The furnace was shut down temporarily beginning in September due to the high price of electricity, and the plan was to delay its restart at least until the end of the first quarter of 2023.
The optimization of ferrochrome production based on the price of electricity continues for all three furnaces, and the production capacity remains at 50–60 percent of normal.
By restarting the third furnace, we can best optimize production in the current electricity market situation as well as compensate for recent production disruptions in one of the other ferrochrome furnaces.
“The restart of the third ferrochrome gives us more possibilities for optimizing the production in the current situation in the electricity market. As the furnace will be restarted, also the employees of that furnace will return to work at the ferrochrome operations. The majority of them have been working in Outokumpu’s stainless steel operations in Tornio,” says Martti Sassi, President, Business Area Ferrochrome.
Outokumpu will comment on the outlook for the first quarter along with the publication of its 2022 financial statements release on February 9, 2023.
More information:
Investors: Linda Häkkilä, Head of Investor Relations, tel. +358 400 719 669
Media: Päivi Allenius, VP – Communications and Brand, tel. +358 40 753 7374 or Outokumpu media desk, tel. +358 40 351 9840
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 9,000 professionals in more than 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki. www.outokumpu.com