Outokumpu Oyj - Company Announcement

Outokumpu Oyj - Statutory negotiations in General Stainless concluded

OUTOKUMPU OYJ
STOCK EXCHANGE RELEASE
10 September 2012 at 11.00 am EET

Statutory negotiations concerning white-collar employees in General Stainless
started in June 2012 have now concluded. Negotiations were started after
Outokumpu announced plans to improve the efficiency of its operations to reach
sustainable profitability. 

Some 100 job reductions take place by pension arrangements, terminations of
fixed-term contracts and lay-offs, the majority of which in Finland.
Originally, the planned job reductions were 150-200. The actions related to job
reductions are expected to take place by mid-October. Efficiency improvements
amount to EUR 10 million of cost savings, of which EUR 5 million come from job
reductions and EUR 5 million from other cost savings, determined together with
personnel representatives. Non-recurring costs of some EUR 5 million related to
the job reductions are estimated to be booked in the third-quarter 2012
accounts. 

For more information:
Investors:

Ingela Ulfves
tel. +358 9 421 2438, mobile +358 40 515 1531

Media:

Saara Tahvanainen
tel. +358 9 421 3265, mobile +358 40 589 0223

OUTOKUMPU OYJ



Outokumpu is a global leader in stainless steel with the vision to be the
undisputed number one. Customers in a wide range of industries use our
stainless steel and services worldwide. Being fully recyclable,
maintenance-free, as well as very strong and durable material, stainless steel
is one of the key building blocks for sustainable future. Outokumpu employs
some 8 000 people in more than 30 countries. The Group's head office is located
in Espoo, Finland. Outokumpu is listed on the NASDAQ OMX Helsinki. 
www.outokumpu.com

Attachments:

ENG Tornio 10.9.2012.pdf