Outokumpu offer to divest Terni mill stuns mart

Oct 08, 2012 | 03:01 PM | Thorsten Schier

Tags  Outokumpu, Inoxum, Terni mill, stainless steel, Thorsten Schier

NEW YORK — Outokumpu Oyj’s recent offer to divest Inoxum Group’s Terni mill in Italy following the companies’ proposed merger in order to win European Commission approval of the deal drew surprise from market sources.

"We visited (Terni) recently and they said they were running at a high capacity utilization rate. Less than a week later, it’s on the trading block," one market source said, adding that he had assumed the mill would play a substantial role in the....

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