Outokumpu plans to invest in energy efficiency next year
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Update time : 2022-11-07 17:04:32
Outokumpu, a Finland-based global stainless steel manufacturer, said it has decided to significantly improve the energy efficiency improvement targets in 2023 and 2024, prioritizing relevant investments during the European energy crisis.
The European energy crisis created a turbulent environment. In order to deal with uncertainty, Outokumpu decided to take immediate action on its energy efficiency, which means increasing relevant annual capital expenditure by €20 million in 2023 and 2024. By the end of 2024, Outokumpu aims to increase the energy efficiency of the whole group by 8% compared with Jan to Sep 2022, which will save about 600,000 megawatt hours of energy.
Outokumpu's sales in Q3 increased by 26% year on year to €2.34 billion but decreased by 13% month on month.
