Outokumpu in European distribution divestment
Stainless Steel producer, Outokumpu plans to sell nine of its warehouse distribution businesses across Europe.
The sale includes the entire issued share capitals of Outokumpu Baltic OÜ (Estonia), Outokumpu UAB (Lithuania), Outokumpu Ltd (Ireland) and Eurotec NV (Belgium), and the business and assets of warehouse distribution businesses in England, Belgium, Czech Republic, Poland, Hungary and Finland to companies within the Amari family of businesses.
Outokumpu is a global producer of a wide range of stainless steel products including hot and cold rolled, precision strip, tubular and long products together with a comprehensive range of fittings, flanges and welding consumables. It employs 8,000 people in over 30 countries, with its UK operations based in Sheffield.
This deal sees Outokumpu sell 10 of its stock operations in nine countries with approximately 100 Outokumpu employees transferring to the buyers.