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Outokumpu - European Commission Approves the Sale of Terni and VDM to ThyssenKrupp - The European Commission has today approved the divestiture of Terni remedy assets, related service centers and VDM business unit to ThyssenKrupp, which was announced on November 30, 2013 - Outokumpu.com
Outokumpu - European Commission Approves the Sale of Terni and VDM to ThyssenKrupp

 

PRZOOM - /newswire/ - Espoo, Finland, 2014/02/12 - The European Commission has today approved the divestiture of Terni remedy assets, related service centers and VDM business unit to ThyssenKrupp, which was announced on November 30, 2013 - Outokumpu.com. OUT1V

   
 
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Says CEO Mika Seitovirta: “This is an important milestone. The divestiture of Terni and VDM business will significantly strengthen Outokumpu’s balance sheet and liquidity, and allow us to focus fully on our stainless steel business and the measures we are taking to turn Outokumpu back to profitability.”

Outokumpu expects to close the transaction in the next few weeks, subject to fulfillment of all closing conditions.

For more information:
Investors: Johanna Henttonen, T: +358 9 421 3804, mobile +358 40 530 0778
Media: Saara Tahvanainen, T: +358 40 589 0223

About Outokumpu Group

Outokumpu (outokumpu.com) is the global leader in stainless steel and high performance alloys. 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 more than 15 000 professionals in more than 40 countries, with headquarters in Espoo, Finland and shares listed in the NASDAQ OMX Helsinki.

 
 
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Agency / Source: Outokumpu OYJ

 
 

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Outokumpu - European Commission Approves the Sale of Terni and VDM to ThyssenKrupp

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OUTOKUMPU OYJ | ThyssenKrupp
Contact: Press Office - Outokumpu.com 
+358 50 346 6556 corporate.info[.]outokumpu.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Outokumpu OYJ securities in any jurisdiction including any other companies listed or named in this release.

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