Outokumpu Oyj - Company Announcement

Statutory negotiations in Outokumpu result in temporary lay-offs in Finland

STOCK EXCHANGE RELEASE
March 24, 2009 at 11.30 am


Outokumpu has concluded the statutory negotiations at Tornio Works in
Finland. The negotiations result in temporary lay-offs for most of
the employees, carried out either for a fixed period of time or in
sequences until further notice.

Due to the low order load, production in the Kemi mine, at the
Ferrochrome Works and in one of the melt-shops will be temporarily
ceased in April. These units employ about 330 employees who will be
laid off for a fixed period. The production is planned to be
restarted in the autumn depending on the market situation.

The employees working in other steel production lines, maintenance
and support functions will be temporarily laid off in sequences until
further notice. About 1 500 employees including office workers and
top management are included in this arrangement. The minimum duration
of the temporary lay-offs is two weeks in a quarter.

Tornio Works in Finland employs 2 350 people.

Negotiations in Outokumpu Stainless Tubular Products (OSTP) in
Finland resulted in the reduction of some 20 jobs in Pietarsaari and
Veteli. Most of the reductions are retirement arrangements.
Additionally, office workers in OSTP Pietarsaari will be temporarily
laid off for seven days and production employees in sequences for two
weeks at minimum during the first half of the year.

For further information please contact:

Päivi Lindqvist, SVP - Communications & Investor Relations, tel. +358
9 421 2432,
mobile +358 40 708 5351
Antti Pihko, SVP - Tornio Works, tel. +358 16 454 278, mobile +358 40
848 2948

OUTOKUMPU OYJ
Corporate Management

Ingela Ulfves
Vice President - Investor Relations and Financial Communications
tel. +358 9 421 2438, mobile +358 40 515 1531
ingela.ulfves@outokumpu.com
www.outokumpu.com

Attachments:

ENG Tornio 24.3.2009.pdf