Outokumpuย agreed to sell most of its stainlessโsteel long products business to Italyโsย Marcegaglia Steel Group. Marcegaglia operates over 30 steel plants worldwide and is a major player in the global steel processing industry. This sale allows Outokumpu to refocus on its core strengthโflat stainlessโsteel products.
Outokumpu Long Products Sale Sharpens Strategy
Theย Outokumpu long products saleย plays a key role in simplifying the companyโs operations. The division represents about 8% of Outokumpuโs total sales from 2021. It includes melting, rod, and bar operations inย Sheffield, U.K.; bar production inย Richburg, U.S.; and a wire rod mill inย Fagersta, Sweden.
Meanwhile, the plants inย Degerfors and Storfors, Sweden, will remain part of Outokumpu for now. The company plans to evaluate future options for those units as market conditions continue to shift.
Approximatelyย 650 employeesย from Sheffield, Richburg, and Fagersta will join Marcegaglia through the transaction. This move ensures work continuity and preserves valuable technical expertise across all production sites.
CEO: Sale Completes TwoโYear Turnaround
โThis divestment completes the turnaround program for our Long Products business,โ saidย Heikki Malinen, President and CEO of Outokumpu. โItโs a natural next step in our strategy, allowing us to focus fully on flat stainlessโsteel production where we have a leading position.โ
Outokumpu expects to finalize the transaction by the end of this year. The sale will streamline operations, improve efficiency, and redirect resources toward innovation and growth markets.
For more details about the companyโs strategy and future plans, visit the officialย Outokumpu website.
