Global stainless steel leader Outokumpu announced that it has completed the divestment of majority of its Long Products business, as announced on 12 July 2022, to Marcegaglia. The prerequisites for the completion of the transaction were, among others, necessary approvals by the competition authorities, and Outokumpu announced these approvals on 14 December 2022. The transaction was carried out as a share sale, and with the transaction, melting, rod and bar operations in Sheffield, UK, bar operations in Richburg, US, and wire rod mill in Fagersta, Sweden were sold to Marcegaglia. The transaction excluded Outokumpu Long Products AB operating in Degerfors and Storfors in Sweden, which continue as a part of Outokumpu.
Global stainless steel leader Outokumpu announced that it has completed the divestment of majority of its Long Products business, as announced on 12 July 2022, to Marcegaglia. The prerequisites for the completion of the transaction were, among others, necessary approvals by the competition authorities, and Outokumpu announced these approvals on 14 December 2022. The transaction was carried out as a share sale, and with the transaction, melting, rod and bar operations in Sheffield, UK, bar operations in Richburg, US, and wire rod mill in Fagersta, Sweden were sold to Marcegaglia. The transaction excluded Outokumpu Long Products AB operating in Degerfors and Storfors in Sweden, which continue as a part of Outokumpu.
