Outokumpu to divest its Stainless Welding operations

Outokumpu has today signed an agreement to sell its Stainless Welding business, Avesta Welding, including its distribution channels, to Böhler-Uddeholm of Austria. The Welding business has its main operations in Sweden, Indonesia and in the US and employs approximately 160 people. Net sales for the business in 2004 were some EUR 38 million. The closing of the transaction is subject to customary regulatory clearances.

The Avesta Welding product portfolio consists of welding consumables and chemicals for joining and surface finishing, including post-weld treatment, for stainless steel.

The decision to sell the Welding business is taken in the light that it does not represent core business for the Outokumpu Group. Outokumpu sees that Avesta Welding has a better strategic fit within the Böhler-Uddeholm Group. The deal has no significant impact on Outokumpu's results.


For further information, please contact:

Olof Faxander, Executive Vice President - Specialty Stainless, Outokumpu Oyj
Phone: +358 9 421 5567, Mobile: +358 40 564 1127
e-mail: olof.faxander@outokumpu.com