Outokumpu Oyj - Company Announcement

Outokumpu files antidumping and countervailing duty petitions in the US together with other stainless steel producers

OUTOKUMPU OYJ
STOCK EXCHANGE RELEASE
February 12, 2016 at 6.55 pm EET



Outokumpu has today filed antidumping and countervailing duty petitions against
Chinese importers together with other American stainless steel producers – AK
Steel Corporation, Allegheny Ludlum LLC (ATI Flat Rolled Products) and North
American Stainless. Stainless steel producers charge in the antidumping duty
petitions that unfairly traded imports of stainless steel sheet and strip from
China are causing material injury to the American industry of stainless steel,
as Chinese producers are selling their products in the American markets at
prices less than their fair value, thereby significantly undercutting American
market prices. The countervailing duty petition alleges that Chinese government
has given significant subsidies to the Chinese stainless steel industry. The
share of imports from China to the NAFTA region has been rising in the recent
years. 

Says Outokumpu’s Michael Williams, President and Head of Coil Americas: “We see
this as a step forward in ensuring and promoting fair market practices and wish
for a speedy resolution to this matter.” 

Commerce Department and U.S. International Trade Commission will now begin
their preliminary investigations which are expected to be finalized during the
first quarter. The entire investigative process will take approximately one
year, and it is expected to be ready in the first quarter of 2017. 

For more information:

Investors: Johanna Henttonen, tel. +358 9 421 3804, mobile +358 40 530 0778

Media: Saara Tahvanainen, tel. +358 40 589 0223

Outokumpu Group


Outokumpuis a global leader in stainless steel. We create advanced materials
that are efficient, long lasting and recyclable – thus building a world that
lasts forever. Stainless steel, invented a century ago, is an ideal material to
create lasting solutions in demanding applications from cutlery to bridges,
energy and medical equipment: it is 100% recyclable, corrosion-resistant,
maintenance-free, durable and hygienic. Outokumpu employs 11,000 professionals
in more than 30 countries, with headquarters in Espoo, Finland and shares
listed in Nasdaq Helsinki. 
www.outokumpu.comoutokumpu.com/stainless-newschoosestainless.outokumpu.com