Finland-based stainless steel producer Outokumpu has announced that it plans to restructure its operations in Germany to strengthen its competitiveness in Europe.
The restructuring would include centralizing advanced materials production in Germany fully to Dillenburg, meaning that precision strip operations would be transferred from Dahlerbrück to Dillenburg. In addition, the company plans to close its coil service center in Hockenheim and intends to transfer the volumes to other sites.
The possible closure of Hockenheim is planned to be completed at the earliest by the end of the second quarter of 2024 and the possible closure of Dahlerbrück at the earliest by the end of 2024.
In total, the transfer-related investments and costs are expected to amount to approximately €20 million and these are expected to be realized during the year 2024.
Meanwhile, the planned restructuring measures are expected to impact close to 200 people in Germany. Outokumpu hopes to reach a mutual understanding with its employees and will seek opportunities inside and outside the group for its employees in Dahlerbrück and Hockenheim.