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Sale of Outokumpu's Terni and VDM Assets to ThyssenKrupp Approved
02/12/2014 - The European Commission has approved the divestiture of Outokumpu’s Terni remedy assets, related service centers and VDM business unit to ThyssenKrupp, which was announced on 30 November 2013.
CEO Mika Seitovirta commented: “This is an important milestone. The divestiture of Terni and VDM business will significantly strengthen Outokumpu’s balance sheet and liquidity, and allow us to focus fully on our stainless steel business and the measures we are taking to turn Outokumpu back to profitability.”
Outokumpu expects to close the transaction in the next few weeks, subject to fulfillment of all closing conditions.
Outokumpu expects to close the transaction in the next few weeks, subject to fulfillment of all closing conditions.
