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Marcegaglia buys stainless steel plant from Outokumpu

The company plans to circumvent the European Union's safeguards, antidumping duties and carbon limit adjustment mechanism by acquiring a facility in the UK.

Marcegaglia buys stainless steel plant from Outokumpu

Italian stainless steel producer Marcegaglia is acquiring UK Outkompu's long stainless steel products division and smelter with the aim of bypassing the European Union's safeguards, antidumping duties and carbon limit adjustment mechanism. The absence of a country-specific quota for the UK indicates the purpose of purchasing these facilities.

The acquisition of the facilities was announced on 13 July 2022 and approved by the European competition authorities on 13 December 2022. In the statement made by Outokompu, it was stated that the sale is expected to close in early 2023.

In these facilities where long stainless steel is produced, Marcegaglia aims to produce flat products as well as long products.


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