Outokumpu divests rights to royalties from Forrestania resources
(Thomson Reuters ONE) -
STOCK EXCHANGE RELEASE
22 December 2011 at 9.00 am EET
Outokumpu has sold the Group's rights to royalties from Forrestania nickel and
precious metals resources to the Australian company Western Areas NL for EUR 23
million (USD 30 million). As these royalties were valued at zero on the
Outokumpu balance sheet, non-recurring operating income of approximately EUR 23
million will be booked in the Group's fourth quarter 2011 operating results. The
transaction will have a positive impact of EUR 11.5 million on Outokumpu's cash
flow in the fourth quarter of 2011 and a positive impact of EUR 11.5 million on
cash flow in the fourth quarter of 2012.
The Group's Forrestania royalty assets have had only a marginal positive impact
on Outokumpu's operating profit in recent years. As a result of this divestment,
the Group will no longer receive any payments in connection with these royalty
rights.
For further information:
Kari Tuutti, SVP - Communications & Investor Relations, tel. +358 9 421 2432,
mob. +358 40 717 0830
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 Mining Royalty rights in Australia:
http://hugin.info/3010/R/1573328/489669.pdf
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Source: Outokumpu Oyj via Thomson Reuters ONE
[HUG#1573328]
Unternehmensinformation / Kurzprofil:
Datum: 22.12.2011 - 08:01 Uhr
Sprache: Deutsch
News-ID 99402
Anzahl Zeichen: 2482
contact information:
Town:
Espoo
Kategorie:
Business News
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