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Outokumpu may divest VDM unit

Keywords: Tags  Outokumpu, VDM, ThyssenKrupp, Inoxum, stainless steel, alloys, nickel, titanium zirconium

BRUSSELS — Stainless steel producer Outokumpu Oyj is considering divesting its VDM alloy business, which it acquired in its merger with ThyssenKrupp AG’s Inoxum Group, in order to improve profitability.

The Finnish producer said it will look for the best option in terms of growth and profitability "within or outside of Outokumpu." The company aims to make a decision on the future of VDM by the end of the year, it said.

VDM, which specializes in corrosion and heat-resistant alloys, such as nickel, titanium and zirconium, had sales of around €1.3 billion ($1.69 billion) in 2012 and employs approximately 2,000 people.

A version of this article was first published by AMM sister publication Steel First.

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