January 25, 2017 at 7.00 pm EET
Outokumpu divests its quarto plate mill in New Castle, Indiana, US to D’Orazio Capital Partners, a US-based private equity company and to the mill’s current management, as it serves Outokumpu’s financial and operational interests. Outokumpu’s other American operations remain unchanged.
The cash consideration of the transaction is expected to be approximately EUR 28 million, depending on the amount of the net working capital at the closing. The transaction reduces Outokumpu’s net debt with the approximately same amount. Outokumpu does not consider the financial impact of the transaction to be material, and reports the transaction as an adjustment in the first-quarter 2017 results.
For more information:
Investors: Tommi Järvenpää, tel. +358 9 421 3466, mobile +358 40 576 0288
Media: Corporate Communications, tel. +358 9 421 3840
Outokumpu is a global leader in stainless steel. We create advanced materials that are efficient, long lasting and recyclable – thus building a world that lasts forever. Stainless steel, invented a century ago, is an ideal material to create lasting solutions in demanding applications from cutlery to bridges, energy and medical equipment: it is 100% recyclable, corrosion-resistant, maintenance-free, durable and hygienic. Outokumpu employs 11,000 professionals in more than 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki.
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