Finnish stainless steel producer Outokumpu has announced that OSTP, its tubular products joint venture with Tubinoxia, came into operation on October 1, 2011.
According to OSTP's new corporate strategy, the focus will be on process pipes and butt-weld fittings, consolidating the company's production structure and reducing costs.
According to the Outokumpu statement, production of process pipes is planned to be consolidated in Jakobstad in Finland and Riyadh in Saudi Arabia, while butt-weld fittings would be produced in Jakobstad and Örnsköldsvik in Sweden.
OSTP is planning to shut down the production of process pipes and heat exchanger tubes at the Nyby site in Torshälla in Sweden by the end of this year. Some of the production is scheduled to be transferred to Jakobstad as part of the overall restructuring.