Finland-based stainless steel producer Outokumpu has updated its adjusted EBITDA guidance for the first quarter of this year since the political strike aimed against the Finnish government will continue until April 7.
As a result, the company expects its adjusted EBITDA to decrease by about €80 million because of the four-week strike. Most of Outokumpu’s stainless steel and ferrochrome operations along with Tornio port have not been operational since the beginning of the strike and the company’s plants in other countries are indirectly affected by material flow interruptions, as SteelOrbis reported previously.
“Even during the strike, we must ensure minimum level of operations to secure the safety of machinery, people, and environment. The continuation of the strike causes a lot of uncertainty in our operations, not to mention our employees and customers, and increases risks for equipment damages and further breakdowns as we cannot undertake protective maintenance work during the strike,” company spokesperson Niklas Wass commented.
