Outokumpu becomes global steel leader with acquisition of Inoxum from ThyssenKrupp

Outokumpu completed the acquisition of stainless steel company Inoxum from ThyssenKrupp. The deal makes Outokumpu the new global steel leader.

Outokumpu now has roughly a 40 per cent steel market share in Europe and 12 per cent share globally. The company has the broadest portfolio in the industry and unparalleled technical expertise and customer knowledge.

“The rationale for building this new industry powerhouse remains as strong as ever; optimizing our production structure, expanding both our product portfolio and market presence to growth markets in the Americas and Asia and reaching annual synergy savings of approximately 200 million euros,” says Mika Seitovirta, Chief Executive Officer of Outokumpu.

Source: Outokumpu, Deutche Welle