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Outokumpu concludes negotiations with IG Metall on the industrial plan; cuts 1,000 jobs

Sunday, 30 Mar 2014 02:15pm EDT 

Outokumpu Oyj:Concludes negotiations regarding industrial plan with employee representatives and unions in Germany.Resolves to close Bochum meltshop in 2015, following a production transfer process.Decides to invests 108 million euro to the Krefeld cold rolling center in Germany between 2014 and 2016 through the ferritic production optimization (NIFO-project).Expects to close Benrath cold rolling mill in 2016 after the production transfer to Krefeld has been completed.Says the agreed industrial concept results in a reduction of 1,000 jobs, thereby bringing the total reduction of jobs to 3,500 jobs globally by the end of 2017. 

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