It is reported that Finnish stainless steel maker Outokumpu plans to restructure its Stainless Tubular Business Unit and it will close the stainless steel tube plant in Veteli in order to optimize production and cut cost.

Meanwhile, two of the production lines will be moved to the plant in Jakobstad and the third one will be shut. The reconstruction is supposed not to affect the production quality and price.

The plan will be carried out in March 2010 as nearly 50 employees will be dismissed.

(Sourced from YIEH.corp)