Outokumpu’s ownership in AvestaPolarit now exceeds 90%, which allows the parties to proceed with their plans to promptly integrate certain central administrative activities. AvestaPolarit is therefore closing the office in Stockholm that it has maintained as a head office in parallel with the CEO’s office in Espoo, Finland. The decision to close AvestaPolarit’s Stockholm office affects 39 employees. Current plans call for as swift as possible a reorganisation of the central functions and the transfer of activities from Stockholm to either Outokumpu’s or AvestaPolarit’s offices in Espoo. This will be done so that the integration has been carried out and the new organisation is up and running by the year-end 2002.
