CORPORATE NEWS:
Outokumpu divests its copper business
Outokumpu has sold its fabricated copper products business – Outokumpu Copper Products Oy – to Swedish-based private equity firm Nordic Capital for Euros 599 million. The sale is part of Outokumpu’s strategic move towards becoming “the undisputed number one international stainless steel and technology company”.
Outokumpu Copper Products’ many businesses across the Americas, Europe and Asia will continue to trade under their present names and report to Kalevi Nikkilä, President of Outokumpu Copper, during a transition period. Bo Söderberg, a partner at Nordic Capital, is confident about the company’s future prospects: “Outokumpu Copper has good long-term customer relationships and great oppor-tunities for growth, not least in the Asian markets and through new solutions of copper use that are being developed
for future applications, including new markets created by stricter environmental standards.”
Outokumpu Holton of the UK is part of the Forming Equipment Division and deals with Conform technology. Its Managing Director Olli Linden comments: “We view this change of ownership as positive news. It is business as usual. Nordic Capital has a strong and proven track record in owning and developing industrial companies
since 1989. Under this new ownership, Outokumpu Copper will continue its
strong industrial approach focusing
on competitiveness and new product offerings.”
Company: |
Outokumpu Castform Oy |
Country: |
Finland |
Fax: |
+358 9 421 4200 |
Email: |
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Website: |
www.outokumpu.com/castform |