Outokumpu Stainless closes Welsh plant

Outokumpu Stainless subsidiary Outokumpu Stainless Tubular Products has announced its intention to close its tubular operations in Wales in Britain latest by the end of the first quarter of 2005. This closure plan has been made against a background of ongoing loss making at Stelco Hardy and adverse market conditions in its product range. Stelco Hardy has been producing stainless steel welded tubes mainly for decoration and automotive industry. The Stelco Hardy annual delivery volumes have been around 4000 tonnes in both austenitic and ferritic stainless steel, which represents only 5% of Outokumpu Stainless Tubular Products total production. Stelco Hardy’s annual sales are approximately EUR 12 million. Outokumpu Stainless Tubular Products will ensure that inconvenience to customers will be minimised and strive to find alternative supply units.

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