Outokumpu, a Finnish stainless steel producer, expects a recovery in its business in Europe, the company announced. Chief Financial Officer Pia Aaltonen-Forsell commented that the recovery is not yet strong enough to return to previous profit levels widespread in Europe, but that they are seeing some recovery.
Subdued growth in Europe has led the Finnish group to focus on investment opportunities in the US, with plans to expand production with a new hot rolling mill and eventually extend its agreement to supply hot rolling products from ArcelorMittal Nippon Steel.
But on the issue of cold rolling, Aaltonen-Forsell commented that the group was still incomplete and that they were continuing to explore options for a possible investment in cold rolling.
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