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 email@example.com
Mirgor: Sofía Conti