Outokumpu to close its production site in Vetel...

PRESS RELEASE
November 12, 2009 at 12.15 pm EET


Outokumpu is taking new actions to restructure its Stainless Tubular
Business Unit (OSTP). To optimize production and cut costs the
company intends to close its production site in Veteli in Finland.

In Veteli, a wide range of fittings to tubular products are produced.
Two of the production lines will be moved to Outokumpu's site in
Jakobstad, Finland. The third line will be closed. Additionally, part
of the production volumes will be moved to the site in Svedjeholmen
in Örnsköldsvik, Sweden. The restructuring does not affect
Outokumpu's product range or offering.

"This move enables us to integrate the fittings production into the
process pipe plant of Jakobstad and to use our different production
methods in an optimal way. By decreasing the number of sites, we make
cost savings which is necessary to us in this difficult market
climate", says Lasse Johansson, the head of OSTP business unit.

The closing of the Veteli site is planned to take place at the end of
March 2010. The site employs about 50 people who will be affected by
these changes. Part of the employees will be offered to transfer to
Jakobstad. Outokumpu will start negotiations with personnel
representatives to find solutions for employees in the change
process.

For more information, please contact:

Lasse Johansson, head of Business Unit Outokumpu Stainless Tubular
Products,
tel [phone], mobile [phone]



Outokumpu is a global leader in stainless steel. Our vision is to be
the undisputed number one in stainless, with success based on
operational excellence. 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 operates in some 30 countries and employs some 8
000 people. The Group's head office is located in Espoo, Finland.
Outokumpu has been listed on the NASDAQ OMX Helsinki since 1988.
www.outokumpu.com


This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.