MULTIMEDIA ZONE

Thursday, February 2, 2012

ThyssenKrupp sells stainless Outokumpu area, operation of 2,700 million euros. Nine months and Thyssenkrupp habrácelebrado the centenary of its stainless steel business. However, the German group has decided to sell it to the Finnish company Outokumpu. Outokumpu, 40% controlled by the state, you only pay one billion to Thyssen, which in turn receive a share of 29.9% in Outokumpu. Through this transaction, Outokumpu provides cost savings through synergies of 250 million by the end of 2017, besides discussing the leadership and the Spanish group ACERINOX Aperam (controlled by ArcelorMittal). According to analysts, are these two companies that benefit most from an agreement between Thyssen and Outokumpu, as the Finnish group "will be tied up for 5 years to production units and employees do not really need." The cost savings is key to the consolidation of the steel industry in Europe, under strong price pressure by Asian manufacturers. Read more...