Outokumpu sells its stainless welding unit
Finland-headquartered steel producer Outokumpu announced yesterday that it signed an agreement to sell its
stainless welding business, Avesta Welding, to Böhler-Uddeholm of
Austria.
Böhler-Uddeholm will also acquire Avesta's
distribution channels. Avesta's main operating bases include
Sweden,
Indonesia, and the US.
The deal, the financial details of which have not been announced yet, is subject to the approval of regulatory authorities.
Outukompu decided to sell its welding operation since it is not a core business of the company.