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    OUT1V   FI0009002422

OUTOKUMPU OYJ

(OUT1V)
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Outokumpu Oyj : and Mirgor agreed on the terms and conditions for the sale and purchase of 100 percent shares of ...

11/14/2022 | 02:05pm EST
Outokumpu and Mirgor agreed on the terms and conditions for the sale and purchase of 100 percent shares of Outokumpu Fortinox S.A.

Outokumpu Oyj
News
November 14, 2022

Outokumpu and Mirgor agreed on the terms and conditions for the sale and purchase of 100% shares of Outokumpu Fortinox S.A.

Outokumpu Group, through Outokumpu Holding Nederland B.V. and Outokumpu Distribution Benelux B.V. agreed today with Mirgor S.A.C.I.F.I.A. on the terms and conditions for the sale by Outokumpu to Mirgor of 100% of the shares and capital of Outokumpu Fortinox S.A. (Fortinox).

Fortinox is the local subsidiary of Outokumpu in Argentina and will continue operating as the exclusive distributor of Outokumpu products in Argentina, Paraguay and Bolivia.

Parties are expecting to close the transaction, upon some operational take over procedures being completed, no later than November 24, 2022.

Matti Louhija, Outokumpu Senior Vice President of M&A and Corporate Development said: "Having a firm like Mirgor as a representative in Argentina allows us to look to the future with the peace of mind that Outokumpu products will continue to be distributed in Argentina with the same quality and professionalism as before."

José Alonso, CEO of Mirgor, mentioned: "We are very happy to have reached this understanding with one of the most recognized stainless-steel producers in the world. For Mirgor it is very important to have the trust of companies like Outokumpu, which will allow us to continue supporting the future industrial development of Argentina."

Outokumpu has reached this agreement within the framework of its global strategy to concentrate its business on the production of the highest quality stainless steel in the central markets and develop distribution networks worldwide.

Any questions please contact:

Outokumpu: Outokumpu's media desk, tel. +358 40 351 9840, e-mail media@outokumpu.com

Mirgor: Sofía Conti

Disclaimer

Outokumpu Oyj published this content on 14 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 November 2022 19:04:06 UTC.


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Sales 2022 9 715 M 10 559 M 10 559 M
Net income 2022 926 M 1 006 M 1 006 M
Net Debt 2022 27,5 M 29,9 M 29,9 M
P/E ratio 2022 2,73x
Yield 2022 4,91%
Capitalization 2 331 M 2 534 M 2 534 M
EV / Sales 2022 0,24x
EV / Sales 2023 0,24x
Nbr of Employees 8 602
Free-Float 79,9%
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Technical analysis trends OUTOKUMPU OYJ
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Mean consensus HOLD
Number of Analysts 13
Last Close Price 5,28 €
Average target price 5,43 €
Spread / Average Target 2,86%
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Managers and Directors
Heikki Pekka Mikael Malinen President & Chief Executive Officer
Pia Aaltonen-Forsell Chief Financial Officer
Kari Alpo Erik Jordan Chairman
Stefan Erdmann Chief Technology Officer
Pierre Vareille Independent Director
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