Outokumpu to close its production site in Veteli in Finland
(Thomson Reuters ONE) - PRESS RELEASENovember 12, 2009 at 12.15 pm EETOutokumpu is taking new actions to restructure its Stainless TubularBusiness Unit (OSTP). To optimize production and cut costs thecompany intends to close its production site in Veteli in Finland.In Veteli, a wide range of fittings to tubular products are produced.Two of the production lines will be moved to Outokumpu's site inJakobstad, Finland. The third line will be closed. Additionally, partof the production volumes will be moved to the site in Svedjeholmenin ÿrnsköldsvik, Sweden. The restructuring does not affectOutokumpu's product range or offering."This move enables us to integrate the fittings production into theprocess pipe plant of Jakobstad and to use our different productionmethods in an optimal way. By decreasing the number of sites, we makecost savings which is necessary to us in this difficult marketclimate", says Lasse Johansson, the head of OSTP business unit.The closing of the Veteli site is planned to take place at the end ofMarch 2010. The site employs about 50 people who will be affected bythese changes. Part of the employees will be offered to transfer toJakobstad. Outokumpu will start negotiations with personnelrepresentatives to find solutions for employees in the changeprocess.For more information, please contact:Lasse Johansson, head of Business Unit Outokumpu Stainless TubularProducts,tel +46 226 826 02, mobile +46 70 618 26 02Outokumpu is a global leader in stainless steel. Our vision is to bethe undisputed number one in stainless, with success based onoperational excellence. Customers in a wide range of industries useour 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 sustainablefuture. Outokumpu operates in some 30 countries and employs some 8000 people. The Group's head office is located in Espoo, Finland.Outokumpu has been listed on the NASDAQ OMX Helsinki since 1988.www.outokumpu.comhttp://hugin.info/3010/R/1354545/328509.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 12.11.2009 - 11:15 Uhr
Sprache: Deutsch
News-ID 8296
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