Finland's Outokumpu restructures German operations to enhance competitiveness
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Update time : 2023-11-15 16:18:29
Finnish stainless steel producer Outokumpu planned to restructure the company's business in Germany to enhance its competitiveness in Europe.
The restructuring plan included the complete concentration of Germany's advanced materials production in Dillenburg, which meant that the precision strip business would be transferred from Dahlerbrück to Dillenburg. Additionally, the company planned to close its coil service center in Hockenheim.
The planned restructuring measures were expected to affect nearly 200 employees in Germany. Outokumpu hoped to achieve a mutual understanding with its employees and would pursue job opportunities within and outside the Group for employees in Dahlerbrück and Hockenheim.
Overall, the investments and costs associated with the transfer were expected to be approximately EUR20 million and were expected to be completed in 2024.
