Outokumpu optimistic about Calvert

Feb 14, 2013 | 04:30 PM | Daniel Fitzgerald

Tags  Outokumpu, Calvert, Outokumpu Stainless Coil Americas, stainless market, stainless demand, North America, Mika Seitovirta, Daniel Fitzgerald

NEW YORK — The North American stainless steel market will likely grow 3 percent this year, Outokumpu Oyj has forecast, creating "good momentum" for the ramp-up of the company’s Calvert, Ala., facility.

The company’s North American division, which it hopes will reach positive earnings by 2014, recorded a €200-million ($267.2-million) loss in 2012, which Outokumpu chief executive officer Mika Seitovirta said in an earnings presentation was due primarily do nonrecurring costs associated with the ramp-up of the Calvert facility.....

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