You are here: Home > Steel News > Latest Steel News > Outokumpu...

Outokumpu acquires minority stake in Germany’s CRONIMET North-East GmbH

Thursday, 25 January 2024 11:19:40 (GMT+3)   |   Istanbul
       

Finland-based stainless steel producer Outokumpu has announced that it has completed the acquisition of a 10 percent interest in Germany-based stainless steel scrap and ferroalloy producer CRONIMET’s subsidiary CRONIMET North-East GmbH and has become a minority shareholder in the company, with the aim of securing high-quality scrap supply.

As a shareholder, Outokumpu will act as a strategic partner in CRONIMET’s Northeastern business, while CRONIMET retains full operational control of the companies involved. Outokumpu does not see integration into the supply chain of stainless steel scrap as part of its raw material strategy, but considers cooperation as the way forward.

The parties have also agreed to jointly carry out research with the goal to improve technologies to further reduce carbon emissions, lower costs and drive waste reduction within the supply chain, as SteelOrbis previously reported.


Similar articles

Ex-Europe scrap price for Turkey rises slightly in new ex-UK booking

04 Nov | Scrap & Raw Materials

Boston dock delivered HMS I/II 80:20 scrap prices updated for November

02 Nov | Scrap & Raw Materials

Boston dock delivered P&S scrap prices updated for November

02 Nov | Scrap & Raw Materials

Dock delivered prices for P&S scrap in New York updated for November

02 Nov | Scrap & Raw Materials

Dock delivered prices for HMS I/II 80:20 scrap in New York updated for November

02 Nov | Scrap & Raw Materials

Philadelphia dock delivered HMS I/II 80:20 scrap prices updated for November

02 Nov | Scrap & Raw Materials

P&S dock delivered scrap prices in Philadelphia updated for November

02 Nov | Scrap & Raw Materials

Mexican domestic scrap prices - week 44, 2024

01 Nov | Scrap & Raw Materials

Some Turkish mills revise their domestic scrap purchase prices

01 Nov | Scrap & Raw Materials

Global View on Scrap: Turkey’s import market may have hit bottom, Asia struggling for stability

01 Nov | Scrap & Raw Materials