OUTOKUMPU SOLD ITS BRASS ROD MILL IN THE UK
OUTOKUMPU OYJ PRESS RELEASE FEBRUARY 27, 2006 AT 5.00 PM
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 Outokumpus 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.
