Outokumpu sold its brass rod mill in the UK

Outokumpu and The Meade Corporation of the UK have today signed and closed a sales and purchase agreement whereby Outokumpu sold its brass rod mill, Outokumpu Copper MKM Ltd, located in Aldridge in the UK, to The Meade Corporation. The total consideration of the transaction is some EUR 20 million and it will have a positive effect on the result of Outokumpu's discontinued operations.

The production capacity of Outokumpu Copper MKM Ltd is some 40 000 tonnes of brass rod and its sales in 2005 amounted to some EUR 70 million. It employs 320 people.

Outokumpu is currently implementing a vigorous improvement project in its existing copper tube and brass assets. This transaction is in line with the improvement plans and follows the earlier announced Outokumpu strategy to exit from the copper tube and brass business.

For further information, please contact:

Eero Mustala, SVP - Corporate Communications, Outokumpu Oyj
tel. +358 9 421 2435

Martyn Meade, Chairman, The Meade Corporation
tel. +44 (0) 1666 840 880

Outokumpu is an international stainless steel and technology company. Our vision is to be the undisputed number one in stainless, with success based on operational excellence. Customers in a wide range of industries - from the process industry and industrial machinery to building, construction and transportation, electronics and information technology, as well as catering and households - use our metal products, technologies and services worldwide. We are dedicated to helping our customers gain competitive advantage.