Outokumpu and Armetal, a Saudi Arabian manufacturer of architectural stainless steel, have agreed to form a 51/49 stainless steel tubular Joint Venture. The joint venture company will be set up in Riyadh and will be named Outokumpu Armetal Stainless Pipe Co. Ltd. Outokumpu Armetal Stainless Pipe will expand the existing Armetal pipe product range by installing a mill to produce stainless pipes up to 6in. The company’s annual capacity will be some 10,000tns in full operation. With its product range, it will be the only company of its kind in the fast growing market in the Middle East, and will further solidify its position with a planned expansion of its product range up to 24in. The goal of Outokumpu Armetal Stainless Co. Ltd is to focus on developing the process pipe business, and to become the preferred supplier in the region. In the development process, the company will utilize the strength of being a part of both a strong local company Armetal, with knowledge of the local market, combined with the know-how and product range available from Outokumpu Stainless Tubular Products.
