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ThyssenKrupp-Outokumpu agree stainless merger - 31 January 2012

ThyssenKrupp has reached agreement in principle to combine its stainless steel business, Inoxum, with Finland’s Outokumpu. The German group will take a stake of 29.9% in the new company, in a transaction valued at Eur 2.7bn

The melting shop at Krefeld will be shut down by the end of 2013. The Bochum melt shop will remain in operation until the end of 2016, TK said on Tuesday in a statement obtained by Steel Business Briefing.

The merger is subject to approval from anti-trust authorities.

 

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