Fagersta Stainless is a leader in special stainless steel wire rod serving customers globally. In 2017, the company’s revenues were approximately € 150 million and stainless steel deliveries amounted to 52,000 t. Fagersta’s product offering complements well Outokumpu’s ASR wire rod mill in Sheffield, UK, and Outokumpu plans to develop both units further to ensure continued offering of leading products and service to its wire rod customers globally.
The cash consideration of the transaction is € 18 million. The transaction will be executed in two phases, so that Outokumpu’s ownership will increase to 90 % at the end of June 2018 and to 100 % at the end of 2019. The completion of the transaction is subject to customary closing conditions.
_{(Source: Outokumpu)}