Finland-based stainless steel producer Outokumpu has announced that it has sold its quarto plate mill in New Castle, Indiana, US to D’Orazio Capital Partners, a US-based private equity company. Outokumpu’s other US operations remain unchanged.
The value of the transaction is expected to be approximately €28 million, depending on the amount of the net working capital at the closing. The transaction will reduce the company’s net debt by approximately the same amount.