Outokumpu to improve the efficiency of its tubular product business
(Thomson Reuters ONE) - PRESS RELEASESeptember 3, 2009 at 14.10 pm EETOutokumpu is restructuring its Stainless Tubular Business Unit (OSTP)to improve efficiency and cut costs. As a result of the strategyprocess the company is selling parts of the production in Jakobstadin Finland and optimizing the utilization of the production lineswithin the unit.Outokumpu intends to sell its square and rectangular tube business inJakobstad to the Finnish company Stalatube Oy, a square andrectangular tube specialist. The tubes produced are not OSTP's corebusiness and increasing the market share and product range would haverequired large investments. The business in question employs eightpeople who will transfer to Stalatube.Outokumpu also intends to move production from Jakobstad's old lines,where small welded pipes are produced, to the fully integrated laserannealing and pickling lines (the LAP lines) in Nyby in Sweden. Inaddition, the production of large tubes will be moved from JakobstadPlate Production to the laser pickling packaging line (the LPP line)in Jakobstad. These changes are planned to take place from January 1,2010.In total, about 50 employees will be affected by these changes."Stalatube taking over the square and rectangular tube business is anexample of market consolidation where OSTP now focuses on roundtubes. We have the world's most integrated pipe production lines inJakobstad and Nyby. The objective is to utilize these lines and closeless efficient operations, resulting in a lower cost structure forOSTP", says Lasse Johansson, the head of OSTP business unit.Outokumpu will start negotiations with personnel representatives tofind solutions for employees in the change process.For more information, please contact:Lasse Johansson, head of Business Unit Outokumpu Stainless TubularProducts, tel +46 226 826 02, mobile +46 70 618 26 02Päivi Lindqvist, SVP Communications & Investor Relations, tel. +358 9421 2432,mobile +358 40 708 5351http://hugin.info/3010/R/1339366/319807.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 03.09.2009 - 07:10 Uhr
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