Finland-based stainless steel producer Outokumpu has announced that it has completed the divestment of its remaining Long Product AB operations in Degerfors and Storfors, Sweden, to Italy-based long stainless steel producer Cogne Acciai Speciali for €12 million, thereby exiting the long products business.
The company is now focusing fully on its core business of stainless steel flat products and ferrochrome. Outokumpu’s plate operations in Degerfors are not affected by the divestment.
In January this year, the company completed the divestment of the majority of its Long Product business operations to Italy-based Marcegaglia Steel Group for €228 million, as SteelOrbis previously reported.
