Outokumpu offloads European businesses

STAINLESS steel product manufacturer Outokumpu has sold nine warehouse distribution businesses across Europe.

Outokumpu, which has its UK operations based out of Sheffield and employs 8,000 people in more than 30 countries, has offloaded the operations to companies within the Amari group.

Businesses included in the sale include Outokumpu Baltic OÜ (Estonia), Outokumpu UAB (Lithuania), Outokumpu Ltd (Ireland) and Eurotec NV (Belgium), and the business and assets of warehouse distribution businesses in England, Belgium, Czech Republic, Poland, Hungary and Finland.

Around 100 Outokumpu staff will transfer under the deal.

A team from law firm DLA Piper in Sheffield acted on the deal. The team included partner Richard May and associate Anna Hopper.

Mr May said: “our ability to work across the nine jurisdictions ensured this transaction by Outokumpu was seamless, which was significant considering the complexity of the deal.

“We are pleased to have played a part in helping Outokumpu realise its stated goals of reducing working capital and achieving cost savings across the group.”

The purchasers were represented by William Woof of Dunard.