Outokumpu open to mergers
Finnish stainless steel maker Outokumpu is ready to be an active player in the consolidation of the industry, but is not looking beyond Europe in the next few years, its chief executive said.
“We are open-minded and will take the opportunities when they arise,” CEO Juha Rantanen told Finnish business magazine Arvopaperi.
“Our Tornio factory is, in our view, one of the most competitive plants in the world, and we have a strong position in special products. These give us a good opportunity to be an active player in the consolidation,” Rantanen said.
“We would welcome European consolidation. Now there are four big players in the market of comparable size, and of course it would be advantageous if there were three big players left.”
Outokumpu has set itself a long-term target to become a top player globally, but Rantanen said expansion beyond Europe was not imminent.
“A big global jump is not in sight for the next 2-3 years,” he said.
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