Outokumpu, a leading European stainless steel producer based in Finland, has negotiated with ArcelorMittal Nippon Steel (AM/NS) a long-term extension of their hot rolling supply partnership until October 1, 2051 on mutually acceptable terms. This long-term agreement aims to create a stable business environment for both parties.
The agreement requires four years' written notice, with the earliest termination date being October 1, 2042. This process gives the parties flexibility to adapt to future changes and continue to cooperate.
With the agreement, Outokumpu expands its market share to the Americas. The transaction includes melting shops and cold rolling production lines in Calvert, Alabama, while hot rolled products continue to be outsourced.
The continued outsourcing of hot rolled products is part of the company's strategy to ensure production continuity. In addition to enhancing its competitive advantage in the sector, this partnership will also serve the goal of supporting sustainability in the steel industry. This development is considered an important step that demonstrates their commitment to adapting to the dynamics of the global steel market and achieving sustainable growth.
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