Outokumpu announced completion of the Inoxum transaction. With close to 40% market share in Europe and 12% globally, the broadest portfolio in the industry and unparalleled technical expertise and customer knowledge, Outokumpu starts as a clear global leader in stainless steel and high performance alloys.
As of December 29, 2012 Outokumpu has four business areas – Stainless Coil EMEA, Stainless Coil Americas, Stainless APAC and High Performance Stainless & Alloys – that provide the full range of stainless steel as well as high performance alloys. New Outokumpu will also benefit from its own chrome mine and the related ferrochrome production, which bring the company a significant cost advantage over other stainless manufacturers.
The combined entity has approximately 16,900 employees, combined revenues of EUR 9.6B (2011 pro forma) and annual cold rolling capacity of approximately 2.8 million tons.
The new Outokumpu Leadership Team consists of: Mika Seitovirta (CEO), Esa Lager (CFO), Ulrich Albrecht-Früh (President, Stainless Coil EMEA), Kari Parvento (President, Stainless Coil Americas), Jarmo Tonteri (President, High Performance Stainless and Alloys), Austin Lu (President, Stainless APAC), Reinhard Florey (EVP, Strategy and Integration), Kari Tuutti (EVP, Marketing, Communications and IR), and Johann Steiner (EVP, Human Resources appointed).
Pii Kotilainen continues in pro tem role as EVP, Human Resources and member of the Outokumpu Leadership Team until Steiner starts in his new role.
