Outokumpu opens a service centre in Kunshan, China
PRESS RELEASE
June 1, 2010 at 7.00 am EET
Inauguration ceremonies for Outokumpu's new service centre in Kunshan, Jiangsu
Province, China are taking place today. Establishment of the service centre
supports the Group's strategy of expanding operations in Asia and serving
end-user and project customers with value-added special products.
China is the world's fastest-growing market for stainless steel. Analyst
estimates (SMR) indicate that national demand for stainless steel will grow by
more than 15% in 2010. Outokumpu's offering to the Chinese market consists
mainly of special grades, especially duplex grades, developed to satisfy the
most demanding applications in the energy, petrochemical, transportation and
pulp and paper sectors. The new service centre means that Outokumpu is now well
positioned to meet customers' expectations.
CEO Juha Rantanen: "This is an important step in strengthening our position in
Asia. As we are now closer to our Chinese customers, we can provide both
tailored deliveries and local support in material selection and technical
specification. As the global leader in duplex grades, Outokumpu now has a good
platform for future growth in China."
Outokumpu has had a presence in China since 1997 and has delivered stainless
steel for use in chemical, petrochemical and nuclear power plant facilities as
well as chemical tankers and paper mills. Most of the stainless steel processed
at the Kunshan service centre is produced at the Group's Avesta and Degerfors
sites in Sweden.
Outokumpu service centres stock and process stainless coil and plate to meet
specific customer requirements, adding a high level of flexibility in terms of
both product dimensions and delivery schedules. The Kunshan service centre has
an annual capacity of some 30Â 000 tons of stainless steel. Processing facilities
include a cut-to-length line, a water-jet cutting machine, a plasma portal
cutting machine and a laser cutting machine. The investment totalled some EUR
20 million. The service centre employs approximately 50 people. Download
pictures from Outokumpu's website.
<
http://www.outokumpu.com/pages/Page____46830.aspx>
For further information please contact:
Kell Hansen, VP - Growth Markets, tel +65 9232 8571
Päivi Lindqvist, SVP - Communications & Investor Relations, tel. +358
40Â 708 5351
OUTOKUMPU OYJ
Outokumpu is a global leader in stainless steel with the vision to be the
undisputed number one. Customers in a wide range of industries use our stainless
steel and services worldwide. Being fully recyclable, maintenance-free, as well
as very strong and durable material, stainless steel is one of the key building
blocks for sustainable future. Outokumpu employs some 7 500 people in more than
30 countries. The Group's head office is located in Espoo, Finland. Outokumpu is
listed on the NASDAQ OMX Helsinki.www.outokumpu.com <
http://www.outokumpu.com/>
[HUG#1420278]
China Service Centre Picture:
http://hugin.info/3010/R/1420278/369901.JPG
ENG China Service Centre:
http://hugin.info/3010/R/1420278/369900.pdf
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.