Outokumpu to sell its filter business to Larox

Outokumpu has signed an agreement to sell Larox its filter business, a part of Outokumpu's technology sales operations. The total transaction value is some EUR 31 million, and the capital employed of the business to be sold is estimated to be EUR 12 million at year-end. It is expected that the deal will be closed by the end of 2003.

The filter business to be sold to Larox generates annual net sales of some EUR 40 million and it employs some 170 persons in seven countries. Employees will transfer to Larox. The most well known trademarks include Pannevis, Hoesch and Ceramec.

Tapani Järvinen, Executive Vice President - Outokumpu Technology and a member of the Executive Committee, said: "The divesture of the filter business releases financial resources for Outokumpu, and as a leading company in its field Larox is an eligible industrial buyer for the business. I'm positive that our co-operation with Larox will continue in future technology sales projects".


OUTOKUMPU OYJ
Corporate Management

Johanna Sintonen
Vice President - Investor Relations
tel. + 358 9 421 2438, mobile +358 40 530 0778, fax + 358 9 421 2429
e-mail: johanna.sintonen@outokumpu.com
www.outokumpu.com