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REAL ESTATE - EDITORIAL

Outokumpu Announces the Sale of its Real Estate in Benrath, Germany

An agreement was signed between Outokumpu and CG Gruppe AG for the sale of Outokumpu's real estate in Benrath. The land in Benrath, Germany was sold for EUR 90 million.

Wednesday, May 8, 2019


by Taner Korkmaz

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In 2018, with 6.9 billion euros of revenue and 2.4 million tonnes of stainless steel deliveries, Outokumpu continued its leadership in stainless steel. Helsinki headquartered Outokumpu has operations in more than 30 countries with 10,000 professionals.

Outokumpu stopped the cold rolling operations in Benrath in the process of restructuring European operations. Therefore, the land in Benrath, Germany has not been used since 2016. After the negotiations with CG Gruppe AG, an agreement was signed for the sale of the land. The whole sales process is expected to be completed in the third quarter and the revenue generated will be used to reduce the debt.