Finnish stainless steel producer Outokumpu has announced that the Bochum melt shop shutdown in Germany has been completed, marking the end of an era of stainless steel production in Bochum. The company said this was a necessary measure to balance its production capacity in Europe. Alternative employment solutions were provided by Outokumpu so that no one had to be made redundant.
Outokumpu said that the positive financial impact of the Bochum melt shop closure is more than €30 million annually from 2016 onwards, with around €20 million of savings visible already in the second half of 2015.The Bochum closure is part of the restructuring program in Europe that targets €100 million in savings by the end of 2017.
Outokumpu is investing more than a €100 million in the cold rolling operations in Krefeld to enhance its ferritic capabilities and enable the planned closure of the Benrath site in 2016.