Outokumpu to invest 370 mln in Finland, Germany

HELSINKI, Jan 31 (Reuters) - Finnish stainless steel maker Outokumpu (OUT1V.HE) said on Thursday it plans to invest a total of 370 million euros ($550 million) in an upgrade of steel production in Finland and in a service centre in Germany.

Outokumpu said it would invest in starting production of high-quality ultra-clean ferritic stainless steel grades as well as bright annealed austenitic and ferritic stainless steel products in Tornio, northern Finland. (Reporting by Sami Torma; Editing by Greg Mahlich)