ThyssenKrupp AG confirmed an agreement was reached between the negotiating partners and the employee representatives.

The agreement includes rules for site and employment protection. The melt shop in Krefeld will be gradually shut down until the end of 2013.

At least until this point in time the strip casting equipment will continue to operate. The melt shop in Bochum will be preserved until the end of 2016. The agreement also generally excludes compulsory redundancies until the end of 2015. All German production sites of Inoxum will be preserved without restrictions at least until 2015.

The results of the agreement with the employee representatives are subject to confirmation by the Management Board of ThyssenKrupp AG. The entire transaction requires the approval by the Supervisory Board of ThyssenKrupp AG and the Board of Directors of Outokumpu. The Supervisory Board of ThyssenKrupp AG will have an extraordinary meeting this afternoon.