The global stainless steel company, Outokumpu, has announced changes in its operational model in efforts to increase customer & market orientation, drive business performance and increase speed and accountability.
Beginning September 1, 2014 the company will consist of five business areas, each with sales, production and profit responsibility: Coil EMEA, Coil Americas, APAC, Quarto Plate and Long Products. Quarto Plate and Long Products were previous business line that were part of the Specialty Stainless business area. Specifically, the Quarto Plate unit is a global leader in tailored quarto plate material with key operations in Sweden and the United States. The Long Products unit is focused on specialty stainless long products and has production offices in the United Kingdom, Sweden and United States.
Special Coil operations in Avesta and Nyby have also been part of the Specialty Stainless business and will become part of Coil EMEA business area as the Specialty Stainless will no longer exist in this new model.
In addition to the five business areas, Outokumpu will continue to have strong group functions to drive group-wide efficiency and alignment in key business processes.
Mika Seitovirta, Outokumpu CEO has stated, “During the past 18 months, we have focused heavily on restructuring and improving our financial position. We have made solid progress in our cost savings and ramp-ups, and significantly strengthened our balance sheet. While we will determinedly carry out all the ongoing restructuring and efficiency measures, we are at the same time shifting gears to accelerate further improvements in our business performance and customer orientation.”