Outokumpu 581765 223791340 2008-07-05T20:45:36Z BulldozerD11 6890629 /* UK Sites */ addedstaybrite and wiki link to British teel :''This article is about a company; for an identically named Finnish city, see [[Outokumpu, Finland]].'' {{Infobox Company | | company_name = Outokumpu Oyj | company_logo = [[Image:Outokumpu.svg|170px]] | company_type = Public ({{OMX|HEX24321|OUT1V}}) | foundation = 1932 | location = [[Espoo]], [[Finland]] | key_people = Ole Johansson <small>([[chair (official)|Chairman]] of the [[board of directors|board]])</small>, Juha Rantanen <small>(President and [[chief executive officer|CEO]])</small> | industry = Basic resources, technology | products = Stainless steel and related technologies | revenue = € 6.913 [[1000000000 (number)|billion]] <small>(2007)</small><ref name="AR2007">{{cite web |url=http://www.outokumpu.com/39836.epibrw |title=Annual Report 2007 |accessdate=2008-04-11 |publisher=Outokumpu}}</ref> | net_income = {{profit}} €641 million <small>(2007)</small><ref name="AR2007" /> | num_employees = 8,270 <small>(2007)</small><ref name="AR2007" /> | slogan = ''Activating your ideas'' | homepage = [http://www.outokumpu.com/ www.outokumpu.com] | intl = yes }} '''Outokumpu''' is a group of [[company (law)|companies]] [[headquarters|headquartered]] in [[Espoo]], [[Finland]], aimed at [[stainless steel]] and technology. Outokumpu has three sites in the [[United Kingdom]], in [[Sheffield]], [[Stocksbridge]] and [[Blackburn]]. Worldwide the company has 10,800 employees in some 30 different countries. Until ca [[2000]] turnover of copper products was bigger than that of the rolled stainless steel products. Outokumpu was several decades known mainly as a mining and metallurgical company. Now, there is the last operational mine in [[Kemi]] for ferrochrome ore. The copper branch was sold for major part in [[2005]]. The zinc branch was merged with the Swedish company [[Boliden]] but later, in [[2005]], Outokumpu sold all Boliden shares. The coldrolling mill in Sheffield was closed during [[2006]], as one of the consequences of the company-wide fixed cost reduction (by 10%). The meltingshop in Sheffield continues producing material for long products. ==History== The company originated from the now-exhausted copper mine in Outokumpu, northern Karelia, Finland. ==Avesta Works== [[Avesta Municipality|Avesta]] has a long history in steelmaking, just like Sheffield in the UK. There is a melting shop, hot rolling for heavy plates, hot rolling for 2000 mm width coils by Steckel-mill and cold rolling mills. Avesta has developed many special stainless steel grades, high-alloy austenitic and duplex grades, optimised for good formability, weldability and high corrosion resistance. ==Tornio Works== The biggest production facilities are located in the integrated mills of Tornio Works, in a small town [[Tornio]] on the coast of [[Gulf of Bothnia]]. Tornio Works produces hot rolled and cold rolled coils and sheets cut from coil, with an annual output of one million tonnes. The main marketing area is EU. Up to 85 pct of the products are exported all around the world. Tornio site consists of ferrochromium smelting, two steelmeltingshops, hot rolling mill and two cold rolling mills. The steel works were built in [[1975]]-[[1976]]. The first stainless cast was made in May [[1976]], week 19, thus it has got the heat number 61901. ==UK Sites== In [[1950]] Firth Vickers and Samuel Fox set up a joint works for cold rolling stainless steel at Shepcote Lane, Sheffield (government restrictions prevented both firms importing the equipment from the USA). In [[1967]] the industry was nationalised, with the stainless steel operation of the business subsequently being branded as [[British Steel|''British Steel Stainless'']]. Firth Vickers previously marketing their Stainless steel under the ''"Staybrite"'' brand. In 2005, it was announced that the cold-rolling and finishing units (Coil Products Sheffield) on Shepcote Lane were to close, with the loss of over 600 jobs. Production ceased in the first half of 2006. However the company still has operations in the UK including a melting shop, special strip cold rolling and finishing, bar rolling and UK distribution. At the end of March 2008 production ceased at it's Stocksbridge site, the work transferring to its Meadowhall site so ending about 80 years of rolling razor strip at Stocksbridge. ==Merged Companies and Acquisitions == At the end of September 2001, Outokumpu Technology finalized the [[Lurgi AG|Lurgi Metallurgie]] acquisition. In [[1992]] British Steel Stainless merged with the Swedish firm ''Avesta'' (as in [[Avesta Municipality]]) to form ''Avesta Sheffield'', and in [[2001]] merged with Outokumpu, making it the third largest stainless steel producing company in the world at the time. The new company was owned by [[Corus Group]], institutional Swedish investors and the Finnish company Outokumpu. The new company was named AvestaPolarit, with headquarters in Stockholm. In [[2004]] Outokumpu bought the shares owned by Corus, so AvestaPolarit became a wholly owned subsidiary of the Outokumpu Group. AvestaPolarit was also removed from the stock exchanges in Helsinki and in Stockholm, since there was now only one company named Outokumpu with its headquarters in Espoo. In [[2005]] Outokumpu had a total turnover of €5.55 billion. ==References== {{reflist}} ==External links== *[http://www.outokumpu.com/ Outokumpu official site] *[http://finance.google.com/finance?q=outokumpu&btnG=Search Financial data] {{OMX Helsinki 25 companies}} [[Category:Companies of Finland]] [[Category:Espoo]] [[Category:Companies listed on the Helsinki Stock Exchange]] [[Category:Economy of Sheffield]] [[de:Outokumpu (Unternehmen)]] [[fr:Outokumpu (entreprise)]] [[fi:Outokumpu (yritys)]] [[sv:Outokumpu Oyj]]