Outokumpu and Cronimet are working together to optimise the raw material cycle. Outokumpu announced that it will acquire a 10 per cent stake in Cronimet North-East GmbH, which directly and indirectly holds shares in the northeastern European companies.
"This partnership is another step towards achieving sustainable development goals," said Jürgen Pilarsky, CEO of Cronimet Holding GmbH.
The two companies have also agreed to work together on innovation and research, and will work together to reduce costs through better planning and reducing waste in the supply chain.
Outokumpu and Cronimet's goals include developing technologies that will contribute to the decarbonisation of the stainless steel industry.
Outokumpu is expected to invest in other companies of the Cronimet Group in the future.