Outokumpu
 |
|
| Listed company | |
| Traded as | Nasdaq Helsinki: OUT1V |
| Industry | Stainless steel |
| Founded | 1932 |
| Headquarters | Helsinki, Finland |
|
Key people
|
Jorma Ollila (chairman), Roeland Baan (President and CEO) |
| Products | Stainless steel |
| Revenue |
 €6.384 billion (2015)
|
 €228 million (2015)
|
|
| Profit |
€86 million (2015)
|
| Total assets |
€5.662 billion (30 September 2016)
|
| Total equity |
€2.137 billion (30 September 2016)
|
|
Number of employees
|
10,785 (30 September 2016)
|
| Website | outokumpu |
Outokumpu is a group of companies headquartered in Helsinki, Finland, producing stainless steel, employing 10,785 employees in more than 30 countries. Outokumpu has a long history as a mining company, and still mines chromium ore in Keminmaa for use as ferrochrome in stainless steel. Largest shareholder of Outokumpu is Government of Finland with 27.3% ownership.
In 1908, a large deposit of copper ore was discovered in Outokumpu, in Northern Karelia. Outokumpu (OTK) was established to develop the now-exhausted mine. In the 1940s, OTK developed the flash smelting process for smelting copper.
From 1986 to 1988 Outokumpu participated in a stainless steel cartel; it was caught in 1990, but not fined. From 1988 to 2001 Outokumpu and the Swedish company Boliden participated in a cartel for copper tubing in the European market.
In 2001 Avesta Sheffield -which was formed from a 1991 merger of British Steel Stainless with the Swedish firm Avesta (as in Avesta Municipality)- merged with Outokumpu, forming the third-largest stainless steel producing company in the world at the time. The new company named AvestaPolarit, headquartered in Stockholm, was jointly owned by Outokumpu and the Corus Group of Swedish institutional investors. In September 2001, Outokumpu's plant construction branch Outokumpu Technology bought the German Lurgi Metallurgie in Frankfurt.
In December 2003 and September 2004, the EC fined Outokumpu €36.14 million for its copper tubing cartel activity. In 2004, Outokumpu bought the shares owned by Corus, so AvestaPolarit became a wholly owned subsidiary of the Outokumpu Group, delisted from the Helsinki and Stockholm stock exchanges, and only Outokumpu remained, headquartered in Espoo.
In 2005, Outokumpu sold its copper branch, Outokumpu Copper, except for the copper tube and brass division, which as of 2014, is known as Luvata International, and OTK's zinc branch merged with the Swedish company Boliden. At the same time Outokumpu sold all Boliden shares. In June 2006, Outokumpu Technology was spun off as a separate, renamed Outotec in April 2007.
...
Wikipedia