Finnish stainless steelmaker Outokumpu has announced plans to increase its direct end-user and project sales and to expand its value added special products capacity in line with its new growth strategy announced in September. The new investments worth €240 million will be made over the coming five years and will target the expansion of hot rolled plate capacity in Sweden and the US, as well as service centre offerings in Germany.
Currently, Outokumpu has an annual production capacity of 160,000 tons of mainly tailor-made plate in special grades. With the upgrading and installation of new equipment, the capacity at the producer's Degerfors plant will rise by 80,000 tons to 190,000 tons, whereas the capacity in the NewCastle plant will increase by 20,000 tons to 70,000 tons. The investments in question will total €180 million and €40 million respectively, with the new capacities scheduled to be commissioned in 2010.
In addition, Outokumpu will also expand the stock and processing capacity of its Willich service centre in northwestern Germany with an investment worth €20 million, increasing output from 60,000 tons to 110.000 tons by 2009.