Finland-based stainless steel producer Outokumpu has announced that it has agreed to sell 100 percent shares of its Argentinian subsidiary Outokumpu Fortinox to Argentina-based consumer electronics and auto parts manufacturer Mirgor, within the framework of its global strategy to concentrate its business on the production of the highest quality stainless steel in central markets and to develop distribution networks worldwide.
Fortinox will continue operating as the exclusive distributor of Outokumpu products in Argentina, Paraguay and Bolivia.
The sale is expected to be completed no later than November 24 this year.