Finland-based stainless steel producer Outokumpu has announced that the closure of its Krefeld meltshop in Germany has been completed according to a plan announced in January 2012. The last day of operations at the meltshop was December 6, 2013. The closure decision was in line with the announcement regarding the merger of Outokumpu and Inoxum.
According to Outokumpu, the closure of Krefeld meltshop cuts 600,000 mt of melting capacity and contributes €50 million annually to the overall planned efficiency measures that are expected to result in annual savings of €450 million by the end of 2017.
Outokumpu said that the closure of Krefeld meltshop was a necessary measure to increase efficiency in production in Europe which continues to suffer from weak demand and low prices. Out of the 400 employees working in Krefeld meltshop, approximately 200 will be transferred to ThyssenKrupp Steel and approximately 100 employees will move to new positions within Outokumpu.
The company continues to have a strong presence in Krefeld with a cold rolling center that employs over 1,500 people and produces premium tailored materials for the most demanding end-customer segments. In addition, Outokumpu's German production sites include mills in Benrath, Bochum Dahlerbrück and Dillenburg.