Finland-based steel producer Outokumpu has announced its acquisition of the operations of Avesta Klippcenter AB located in Avesta, Sweden. The transaction will take place on July 1, 2008.
Avesta Klippcenter will process stainless steel material from Outokumpu's mills in Sweden.
With this acquisition Outokumpu will be able to increase its raw material handling capacity and will also secure competitive supplies for the Avesta stainless steel melt shop.
On the other hand, Avesta Klippcenter will have the chance to increase production capacities in Avesta and at other sites in Sweden. The firm's annual sales are approximately €4.5 million.