Finnish Outokumpu evaluates business expansion into US
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Update time : 2023-08-10 16:09:17
According to the report, Finnish stainless steel producer Outokumpu began to explore the possibility of expanding production in the US to meet the growing demand for stainless steel. Outokumpu planned to increase the production capacity of stainless steel cold-rolled coils and gradually establish its own hot-rolled plant in Calvert, Alabama.
The company has certain critical supplier dependencies. Currently, in the US, Outokumpu is still procuring stainless steel hot-rolled products from an external party under an agreement valid until 2036. They found that business profitability continually picks up in the US, and they intended to improve the production capacity in Alabama plants while surveying the appropriate solution to achieve business goals.
