Outokumpu-Inoxum merger closes early

Dec 28, 2012 | 10:49 AM | Elfi Middelbeek

Tags  Inoxum Group, ThyssenKrupp, stainless, Outokumpu Oyj, Kari Parvento, Mika Seitovirta, Elfi Middelbeek

LONDON — The merger between ThyssenKrupp AG stainless division Inoxum Group and Finnish stainless producer Outokumpu Oyj has been completed, both companies confirmed Friday.

Under the terms of the deal, Inoxum is now part of Outokumpu, with ThyssenKrupp taking a 29.9-percent stake in the company.

The new Outokumpu will start operations with a new structure and corporate governance on Dec. 29, the companies said. The combined company has been organized into four divisions: stainless coil Americas, led by Kari Parvento; stainless coil Europe, Middle East and Africa (EMEA); stainless Asia Pacific (APAC); and high-performance stainless and alloys.....

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