NEW YORK Inoxum Group,
ThyssenKrupp AGs stainless arm, and Finnish stainless
producer Outokumpu Oyj will begin operating as a merged entity
with the start of the new year.
"We will start operations of
(the) combined entity on Jan. 1," a spokesman for Outokumpu
told AMM in an e-mail.
A spokeswoman for ThyssenKrupp
Stainless USA Inc., the domestic subsidiary of Inoxum that
operates a plant in Calvert, Ala., confirmed via e-mail that
the merger is officially set to close Jan. 1.
ThyssenKrupp Stainless recently
started the melt shop at Calvert (
amm.com, Dec. 10), which has an annual stainless
slab production capacity of 900,000 tonnes. The company
doesnt yet have an output estimate for 2013.
Outokumpu expects synergies from
the 2.7-billion ($3.57-billion) merger, which required
the divestiture of Inoxums Terni stainless mill in Italy
in order to gain approval from the European Commission, to be
about 200 million ($264.8 million).
Market sources have speculated
about Outokumpus approach to running the Calvert plant,
citing ThyssenKrupps previously stated goal of capturing
25 percent of the U.S. stainless market by 2014 (
amm.com, Dec. 14).