Stainless expansion hits Outokumpu’s profits [UPDATE]

Outokumpu, Finland’s diversified metals group, has reported a collapse in quarter two operating profit compared with same period last year

Commenting on the results ceo Jyrki Juusela said: “We have experienced a prolonged period of slow economic growth that has affected the profitability of the metals business. In the short term most of our anticipated improvements in profitability will come from the increased volumes and improved product mix from Tornio.”

AvestaPolarit ceo Pekka Erkkilä added: “We are not afraid of capacity being much higher than production. We do not produce [material] for stock.” Erkkilä also admitted that AvestaPolarit expects the base price of stainless steel to fall...

Published

July 28, 2003

18:01 GMT

London