Outokumpu has divested its pipe plant in Wildwood, Florida, USA to Ta Chen International Inc., a master distributor in the US and part of a Taiwan-based listed company, Ta Chen Stainless Pipe, Ltd.
The divestment serves Outokumpus financial and operational interests, allowing Outokumpu to focus on its stainless steel production in the US in Calvert, Alabama and Richburg, South Carolina. Thus, Outokumpus other operations in the US remain unchanged.
The cash consideration of the transaction is approximately EUR 25 million (approx. USD $29.5 million).