Outokumpu signed on 23 April 2008 an agreement to acquire the SoGePar Group, an Italian distributor of stainless steel from its owners, the Borromeo family. After having received regulatory clearances the transaction has, on 30 July 2008, been completed. Outokumpu paid EUR 215 million in cash and took on debt in the company in the amount of EUR 120 million. The work to integrate the SoGePar units into Outokumpu’s sales and marketing organization will now go ahead at full speed. Appropriate joint integration teams have been established to facilitate a smooth transition. SoGePar will be consolidated into Outokumpu’s accounts as of 1 August 2008.
