Outokumpu sold its holding in Nordic Brass
(Thomson Reuters ONE) -
STOCK EXCHANGE RELEASE
1 November 2011 at 10.30 am EET
Outokumpu has sold its 50% holding in Nordic Brass Gusum, a brass rod mill in
Sweden, to the operative management. The consideration and cash flow impact of
this transaction is marginal, however, Outokumpu will book a loss of
approximately EUR 13 million in the Group's fourth quarter accounts. In 2010,
the turnover of Nordic Brass Gusum amounted to EUR 110 million and the business
currently employs some 150 people.
After the sale, Outokumpu will still own a brass rod plant in Drünen in the
Netherlands. In 2010, the turnover of this business totalled some EUR 60 million
and it currently employs approximately 170 people. It is Outokumpu's intention
to divest also this business.
For further information:
Esa Lager, CFO, tel. +358 9 421 2516
Ingela Ulfves, VP - Investor Relations and Financial Communications,
tel. +358 9 421 2438, mob. +358 40 51 51 531
OUTOKUMPU OYJ
Outokumpu is a global leader in stainless steel with the vision to be the
undisputed number one. Customers in a wide range of industries use our stainless
steel and services worldwide. Being fully recyclable, maintenance-free, as well
as very strong and durable material, stainless steel is one of the key building
blocks for sustainable future. Outokumpu employs some 8 000 people in more than
30 countries. The Group's head office is located in Espoo, Finland. Outokumpu is
listed on the NASDAQ OMX Helsinki. www.outokumpu.com
ENG Nordic Brass sale SER 1.11.2011:
http://hugin.info/3010/R/1559549/482409.pdf
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Source: Outokumpu Oyj via Thomson Reuters ONE
[HUG#1559549]
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Datum: 01.11.2011 - 09:30 Uhr
Sprache: Deutsch
News-ID 82251
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