52-618: Outokumpu Nirosta is a business segment of Outokumpu , headquartered in Krefeld , Germany . It produces flats of stainless steel . Prior to January 2012, it was named ThyssenKrupp Nirosta and part of ThyssenKrupp AG . The unit has a plant in Bochum . The Nirosta brand was registered with the United States Patent and Trademark Office as early as 1920 for "NON-RUSTING STEELS, STAINLESS STEELS AND ACID RESISTING STEELS" etc. It
104-658: A cartel for copper tubing in the European market. In 2001 Avesta Sheffield —which was formed from a 1991 merger of British Steel Stainless with the Swedish firm Avesta (as in Avesta Municipality )—merged with Outokumpu, forming the third-largest stainless steel producing company in the world at the time. The new company named AvestaPolarit , headquartered in Stockholm, was jointly owned by Outokumpu and
156-648: A division until 2005, when it became a wholly owned subsidiary. In 1991, ThyssenKrupp acquired German company Hoesch AG . In 1999, Thyssen (one of the companies of the merger to form Thyssenkrupp Elevator) acquired the elevator division of American-based conglomerate Dover Corporation . Four years later, ThyssenKrupp acquired the Korean-based Dongyang Elevator. In 2005, ThyssenKrupp acquired Howaldtswerke-Deutsche Werft (HDW) in Kiel from One Equity Partners . One Equity Partners holds 25% of
208-552: A final agreement with India's Tata Steel to establish a long-expected steel venture. The 50-50 joint venture was called Thyssenkrupp Tata Steel and it became the second-largest steel producer in Europe, after ArcelorMittal . On 1 October 2023 the firm instituted a green energy division, Decarbon Technologies, to develop its energy solutions. In September 2017, ThyssenKrupp and India-based Tata Steel announced plans to combine their European steel-making businesses. The final agreement
260-514: A further 6,000 jobs. ThyssenKrupp generates 33% of its consolidated sales in its home market. The rest of the European Union (EU) (28%) and the NAFTA region (21%) are the key trading partners for business and exports outside Germany. The operations are organized in five business areas: Construction of the corporate headquarters began in 2007. The first buildings were complete in 2010;
312-558: A hot rolling mill and two cold rolling mills. The steel works were built in 1975–1976. The first stainless cast was made in May 1976, week 19, thus it has got the heat number 61901.The main marketing area is the EU. Up to 85% of the products are exported all around the world. Kemi mine in Keminmaa near Tornio provides chromite, the raw material for chrome, needed to make stainless steel. In 2012,
364-540: A large deposit of copper ore was discovered in Outokumpu , in Northern Karelia . Outokumpu was established to develop the now-exhausted mine. In the 1940s, Outokumpu developed the flash smelting process for smelting copper. From 1986 to 1988 Outokumpu participated in a stainless steel cartel; it was caught in 1990, but not fined. From 1988 to 2001 Outokumpu and the Swedish company Boliden participated in
416-729: A long history in steelmaking, as does Sheffield in the UK where stainless steel was invented. Thin Strip Nyby (see also Nyby bruk ) produces cold rolled stainless steel, concentrating on special grades, part of the Special Coil business line. Nyby Ironworks in Torshälla was founded in 1829 by Adolf Zethelius , but ironworking on the site is first documented in the 15th century when the Bishop of nearby Strängnäs founded hammer forges by
468-573: A non-recurring capital gain of EUR 389 million (net of taxes and debt repayment) for the sale of the entire 60% share in SKS. At the same time, the Board of Directors of SKS decided to stop the operations of SKS and release the workforce. In March 2017, employing 100 people, the company opened its global service center in Vilnius , Lithuania. In April 2020, Outokumpu named former Posti CEO Heikki Malinen as
520-633: A period of expansion in 1978, Thyssen AG entered the North American automotive industry with the acquisition of Budd 's automotive operations, which became the automotive division of Thyssen and operated in North America as Budd Thyssen, later ThyssenKrupp Budd Incorporated. In October 2006, ThyssenKrupp sold ThyssenKrupp Budd's North American body and chassis operations to Martinrea International Inc. In 1988, ThyssenKrupp acquired German shock absorber manufacturer Bilstein, when it became
572-593: A project consisting of building new carbon steel and stainless steel processing facilities in Calvert, Alabama about 40 miles north of Mobile . The project, along with a multibillion-dollar greenfield steel-making facility in Brazil , was a cornerstone of ThyssenKrupp's new global expansion strategy into the North American steel markets. The carbon steel and stainless steel companies were independent and operated under different management teams. Co-locating both facilities on
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#1732771781554624-655: A subsidiary of the Voestalpine group (€4.5m); and Voestalpine BWG GmbH & Co. KG, Butzbach, another Voestalpine subsidiary (€4m) for price-fixing of steel railway lines and points blades supplied to Deutsche Bahn, the German state railway. According to Andreas Mundt, president of the Bundeskartellamt, "For many years the rail suppliers have guaranteed each other virtually constant shares of Deutsche Bahn's contract volume. The cartel members monitored compliance with
676-488: Is a German industrial engineering and steel production multinational conglomerate . It resulted from the 1999 merger of Thyssen AG and Krupp and has its operational headquarters in Duisburg and Essen . The company says that it is one of the largest steel producers in the world, and it was ranked tenth-largest worldwide by revenue in 2015. It is divided into 670 subsidiaries worldwide. The largest shareholders are
728-714: Is a tier two supplier to the automotive industry, located in Waupaca, Wisconsin . In April 2014, ThyssenKrupp announced it was in talks to sell its Swedish maritime defence unit to Saab after failing to agree deals with the Swedish government for a new generation of submarines. ThyssenKrupp Access, the global manufacturer of home elevators, wheelchair lifts, and stairlifts, has linked up with Chennai-based Indian Company Elite Elevators. The company has launched luxury home elevators segments targeting HNI Clientele to launch high-end elevators in India . In June 2018, Thyssenkrupp signed
780-513: Is suspected of corruption in deals made in Israel , Turkey , South Africa and also in Pakistan , where the deal did not mature. In Greece , the defense minister Akis Tsochatzopoulos was sentenced to prison for accepting a bribe from a consortium in which one of the members was ThyssenKrupp. ThyssenKrupp has been the target of major, organised hacking attacks on several occasions, attacking
832-623: Is the largest producer of stainless steel in Europe and the second largest producer in the Americas. Outokumpu also has a long history as a mining company, and still mines chromium ore in Keminmaa for use as ferrochrome in stainless steel. The largest shareholder of Outokumpu is the Government of Finland , with 26.6% ownership, including the shares controlled by Solidium , The Social Insurance Institution of Finland , Finnish State Pension Fund and Municipality Pension Agency . In 1908,
884-631: Is used in Germany to indicate stainless steel as a type of synonym. This usage is also common in Israel. Nirosta is an acronym for ni cht ro stender Sta hl ("non-rusting steel"). This German corporation or company article is a stub . You can help Misplaced Pages by expanding it . Outokumpu Outokumpu Oyj is a group of international companies headquartered in Helsinki , Finland , with 10,600 employees in more than 30 countries. Outokumpu
936-601: The Alfried Krupp von Bohlen und Halbach Foundation and Cevian Capital . ThyssenKrupp's products range from machines and industrial services to high-speed trains , elevators , and shipbuilding. The subsidiary ThyssenKrupp Marine Systems also manufactures frigates, corvettes, and submarines for the German and foreign navies . In 2018, ThyssenKrupp announced that the company would split into two companies, ThyssenKrupp Industrials and ThyssenKrupp Materials, but this plan
988-660: The Corus Group of Swedish institutional investors. In September 2001, Outokumpu's plant construction branch Outokumpu Technology bought the German Lurgi Metallurgie in Frankfurt. In December 2003 and September 2004, the EC fined Outokumpu €36.14 million for its copper tubing cartel activity. In 2004, Outokumpu bought the shares owned by Corus, so AvestaPolarit became a wholly owned subsidiary of
1040-433: The EU, over nine years, along with competitors Otis Elevator Co. , Schindler Group , Kone , and Mitsubishi Elevator Europe . On 21 February 2007, ThyssenKrupp was fined €479 million by the EU (Otis was fined $ US295 million). The EU Competition Commission reported that the companies had worked to rig bids for procurement contracts, share markets, and fix prices between at least 1995 and 2004. The Commission reported that
1092-429: The German manager, was sentenced to 6 years and 3 months. According to the bilateral laws between Germany and Italy , the convicted can serve the term in his home country and with accordance to this countries' laws. Since accounts of first-degree murder have been appealed down to aggravated negligent manslaughter, the German convicts are expecting further reductions that would eventually not exceed 5 years. ThyssenKrupp
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#17327717815541144-506: The North American region by 2020 to take advantage of the economy's reindustrialization. In February 2020, ThyssenKrupp AG's board announced that it would sell its elevator segment to Advent International , Cinven , and RAG foundation for $ 18.9 billion. The transaction closed in July 2020, and the new stand-alone company was named TK Elevator [ fr ; de ] . ThyssenKrupp reported Total CO 2 e emissions (Direct + Indirect) for
1196-579: The Outokumpu Group, delisted from the Helsinki and Stockholm stock exchanges, and only Outokumpu remained, headquartered in Espoo . In 2005, Outokumpu sold its copper branch, Outokumpu Copper, except for the copper tube and brass division, which as of 2011, is a subsidiary of Mitsubishi Materials known as Luvata International, and Outokumpus zinc branch merged with the Swedish company Boliden . At
1248-647: The Steel Americas business. In September 2012, ThyssenKrupp agreed to sell the automotive components manufacturer Tailored Blanks to the Wuhan Iron and Steel Corporation , based in China for an undisclosed price. At the time of the agreement Tailored Blanks had annual sales of around 700 million euros and a global market share of about 40 percent in automotive laser-welded blanks. In April 2015, ThyssenKrupp announced it would invest more than €800 million in
1300-719: The TKMS shares. In December 2005, ThyssenKrupp acquired 60% of Atlas Elektronik from BAE Systems , with EADS acquiring the remaining 40%. In August 2007, ThyssenKrupp Materials North America acquired OnlineMetals.com, a small-quantity distributor of semi-finished metals and plastics based in Seattle . In early 2008, ThyssenKrupp Aerospace acquired Apollo Metals and Aviation Metals, both suppliers to aerospace and defence based in Kent, Washington . In June 2012, ThyssenKrupp sold Thyssenkrupp Waupaca to KPS Capital Partners. ThyssenKrupp Waupaca
1352-656: The Tombigbee River depth and lack of turning basins prohibit deep draft ship navigation to the site in Calvert. The world steel industry peaked in 2007, just as the company spent $ 12 billion to build the two most modern mills in the world, in Alabama and Brazil. The worldwide Great Recession started in 2008. Heavy cutbacks in construction combined with sharply lowered demand, and prices fell 40%. ThyssenKrupp lost $ 11 billion on its two new plants, which sold steel below
1404-544: The cold rolling and finishing units, Coil Products Sheffield on Shepcote Lane were closed, with the loss of over 600 jobs. Production ceased in the first half of 2006. The company continued the melting shop, special strip cold rolling and finishing, bar rolling, and UK distribution. At the end of March 2008 the Stocksbridge site production ceased after 80 years, with work transferring to its Meadowhall site. In 2023, Outokumpu divested its Long Products business, including
1456-580: The companies "did not contest the facts" found by EU regulators, noting none of the accused requested a hearing to answer the allegations. The fines totaled US$ 1.3 billion. In July 2012, the German Bundeskartellamt served fines totalling €124.5 million on ThyssenKrupp GfT Gleistechnik GmbH, Essen (€103m); Stahlberg Roensch GmbH, Seevetal, which since 2010 belongs to the Vossloh group (€13m); TSTG Schienen Technik GmbH & Co. KG, Duisburg,
1508-603: The company's trade secrets. Elite Elevators is partnered with TK Access Solutions, a global manufacturer of residential lifts, to provide the world’s best residential lift solutions to the Indian market. On 8 December 2016, it was disclosed the company was attacked in February of that year. Internally uncovered in April 2016, it took their IT team around six months to fix. The hack is thought to have originated from South-East Asia and
1560-604: The contract volume quotas, assigned each other projects, and set protective prices in order to steer the contract award process." The proceedings had been triggered by an application for leniency filed by the Austrian company Voestalpine AG. Investigations into further companies are ongoing. On the early morning of 6 December 2007, an accident on the annealing and pickling line of the ThyssenKrupp plant in Turin, Italy , caused
1612-590: The cost of production. ThyssenKrupp's stainless steel division, Inoxum, including the stainless portion of the US plant, was sold to Finnish stainless steel company Outokumpu in 2012. Finally in 2013, ThyssenKrupp offered the remaining portion of the plant for sale at under $ 4 billion. They sold it to ArcelorMittal and Nippon Steel the following year for $ 1.55 billion. In February 2017, it agreed to sell its Brazilian steel business CSA to Ternium for €1.5 billion. The two transactions meant that Thyssenkrupp fully parted from
Outokumpu Nirosta - Misplaced Pages Continue
1664-595: The court case, Espenhahn was transferred from Italy and is now believed to live in Brazil. On 23 February 2013, the Appellate Court changed the sentence for him to culpable murder, not recognizing the voluntary murder, thus reducing the conviction. Convictions for the other managers were also reduced. In May 2016, the appeal court reduced the sentence for Espenhahn to 9 years and 8 months, the other 5 managers (4 Italians and 1 German) between 6 and 7 years. Priegnitz
1716-402: The death of seven steelworkers . The accident happened between 00:45 and 00:48, when the eight workers that were then on duty attempted to extinguish a localized small pool fire with CO 2 fire extinguishers and a fire hydrant, without success. About 400L of hydraulic oil escaped during the rupture of a hydraulic circuit which caused a violent jet fire engulfing the workers that were fighting
1768-544: The fire. CEO Espenhahn was charged by the State prosecutor of Turin with "voluntary multiple murder with possible malice" ("omicidio volontario multiplo con dolo eventuale"), while five other managers and executives have been charged with "culpable murder with conscious guilt". On Friday 15 April 2011, Espenhahn and all the other indictees were pronounced guilty of all charges; he was sentenced to 16 years and 6 months in jail and barred from holding public office for life. Prior to
1820-445: The lawsuit over price-fixing of copper tubing. In October 2015, Outokumpu announced the divestment of 55% shares in its Shanghai-based joint venture between Outokumpu (60%) and Baosteel (40%), Shanghai Krupp Stainless (SKS), to Chinese real-estate investment fund Lujiazui International Trust Co. Ltd. In a second step, Outokumpu divested the remaining 5% of its holdings in February 2016 to the same investor. In total Outokumpu recorded
1872-610: The melting, rod and bar operations in Sheffield, UK, to Marcegaglia . Outokumpu retains service center and sales company in Sheffield. As of 2018 there are production sites in Krefeld , Dillenburg and Dahlerbrück . The Krefeld mill with 100 years of experience in stainless steel production, closed its melt shop in December 2012 and re-focused on cold rolling and R&D. The nearby Benrath cold rolling mill in Düsseldorf
1924-463: The next chief executive of the company. Outokumpu's largest production facilities are the integrated steel mills of the Tornio Works , in the small Finnish town Tornio on the coast of Gulf of Bothnia . Tornio Works produces hot rolled and cold rolled coils and sheets cut from coil, with an annual output of one million tonnes. The site consists of ferrochrome smelting, two steel-melting shops,
1976-492: The quantity of chromite was estimated to a depth of one kilometer, totalling some 105 million tonnes. Avesta Sheffield was acquired 2001 and consists of a stainless steel mill with melting shop, hot rolling for heavy plates, hot rolling for 2000 mm width coils by Steckel mill and cold rolling mills. Avesta developed special stainless steel grades, high-alloy austenitic and duplex grades, optimized for good formability, weldability and high corrosion resistance. Avesta has
2028-547: The same site enabled the company to optimize the investment in infrastructure and in some shared processing. Additionally, the Alabama State Port Authority invested over $ 100 million to build a state-of-the-art transloading slab terminal on the southern tip of Pinto Island in Mobile Bay to service the inbound raw material slabs for the upriver carbon steel facility. The terminal was necessary since
2080-543: The same time Outokumpu sold all Boliden shares. In June 2006, Outokumpu Technology was spun off as a separate company, renamed Outotec in April 2007. On 31 March 2008, the cold rolling mill in Sheffield was closed in a company-wide 10% fixed cost reduction plan. The melt shop in Sheffield continues producing material for long steel products . In April 2008 OTK exited the copper business by selling its remaining copper tube and brass division to Cupori Group Oy. On 31 January 2012, Outokumpu announced it would buy Inoxum,
2132-461: The second phase of the building was completed in June 2015. Situated in the west of Essen, the corporate campus was designed by Chaix & Morel et associeés ( Paris ) and JSWD Architekten ( Cologne ). Their design was selected for construction in an architectural design competition in 2006. In November 2006, five elevator manufacturers including ThyssenKrupp, were found guilty of price fixing by
Outokumpu Nirosta - Misplaced Pages Continue
2184-585: The stainless steel division of German ThyssenKrupp , for 2.7 billion euros. At the time, Finnish state capital controlled 40% of Outokumpu. In November 2012, the European Commission found this acquisition would have created an EU market dominance for cold-rolled stainless steel flat products with Outokumpu market share above 50%. The EC cleared the merger on the condition that the Italian Inoxum subsidiary Acciai Speciali Terni (AST)
2236-498: The twelve months ending 30 September 2020 at 22,700 Kt (−1,400 /-5.8% y-o-y). As of 2020, the company had over 100,000 employees worldwide. After a financial struggle in 2020, and a loss of over €5.5 billion, ThyssenKrupp announced that it will be cutting over 11,000 jobs, 7,000 of which are located in Germany . In November 2024, Thyssenkrupp announced it would lay off around 5,000 jobs at its steel subsidiary by 2030 and outsource
2288-659: The two companies. At the same time, on 30 November 2013, Thyssen Krupp announced the same: that it would reacquire AST and other so-called 'remedy assets' as well as VDM (high-performance alloys) from Outokumpu, that it would sell its 29.9% shares in Outokumpu, and sever all other "relevant links" between the two companies. In February 2014, the EC cleared the AST and VDM acquisition by ThyssenKrupp. In July 2014, Outokumpu agreed to settle with Boliden and engineering group IMI, who had sued Outokumpu in 2012 to cover Boliden's losses from
2340-687: The waterfall near Nyby. The Degerfors Long Products steelworks was owned in 2021 by the Outokumpu conglomerate. After the Avesta Sheffield acquisition, Outokumpu owned the Sheffield facility in the UK includes a melt shop, continuous casting , a bar finishing facility and rod mill which are part of Outokumpu's Long Products business, also a stocking, processing and distribution center. Production includes stainless steel in coil, plate, sheet, coiled rod, bar and rebar forms; semi-finished products including slab, bloom, billet and ingot are also manufactured. Outokumpu's UK acquisitions derived from
2392-568: The works created in 1950 as a joint venture between Firth Vickers (see Firth and Vickers ) and Samuel Fox and Company for cold rolling stainless steel, established at Shepcote Lane, Sheffield, originally manufactured under the Staybrite brand. In 1967 the industry was nationalized into the British Steel Corporation . Outokumpu's original three sites in the UK were in Sheffield, Stocksbridge , and Blackburn . In 2005
2444-582: Was cancelled in May 2019. ThyssenKrupp is the result of a merger of two German steel companies, Thyssen AG founded in 1891 under the name Gewerkschaft Deutscher Kaiser and Krupp founded in 1811. As early as the 1980s, the companies began negotiations on a merger and began closely cooperating in some business areas. In 1997, the companies combined their flat steel activities, with a full merger completed in March 1999. Krupp Thyssen Krupp Thyssen Krupp Thyssen Krupp Thyssen During
2496-773: Was closed in 2014. Outokumpu has a melt shop and cold-rolling mill in Calvert, Alabama (purchased from ThyssenKrupp ) and a cold rolling mill in San Luis Potosí (Mexico) which manufactures coil, strip, sheet, circles and plate. The company is led by a board of directors and a leadership team. As of June 2022, the members of the Outokumpu Leadership Team held the following positions: [REDACTED] Media related to Outokumpu (company) at Wikimedia Commons ThyssenKrupp ThyssenKrupp AG ( / ˈ t ɪ s ən . k r ʊ p / , German: [ˌtʏsn̩ˈkʁʊp] ; stylized as thyssenkrupp )
2548-571: Was excluded from the deal, and OTK acquired Inoxum in December 2012. Through Inoxum, Outokumpu acquired stainless steel mills in China, Mexico, Bochum, Germany , Werdohl, Germany , and in Calvert, Alabama, USA. On 30 November 2013, Outokumpu announced it would sell AST, certain service centers and the VDM Metals business to Thyssen Krupp, and in turn, ThyssenKrupp would sell its 29.9% shares in Outokumpu, and sever all other "relevant links" between
2600-520: Was relocated and joined with Krefeld operations, to make a range of grades, dimensions and surface finishes. The Dahlerbrück cold rolling mill is located in Sauerland producing precision strip and looks back on a 300-year tradition of iron and steelmaking. The cold rolling mill in Dillenburg specializes on surface finishes for example in architecture, building and construction. The Bochum melt shop
2652-518: Was signed in June 2018. The deal would have structured the European assets as ThyssenKrupp Tata Steel, a 50–50 joint venture headquartered in Amsterdam and created the second-largest steel producer in Europe. The merger was finally prohibited by the EU Commission in 2019 for competitive concerns. On 11 May 2007, ThyssenKrupp AG invested €3.1 billion (increased to $ 4.6 billion in 2010) for
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#17327717815542704-584: Was successful in retrieving information from various departments, including the plant engineering division. In 2012, ThyssenKrupp and other European companies were attacked by Chinese hackers. On August 15, 2024, a fire broke out at the Thyssenkrupp warehouse in Völklingen. The building where plastic products and solar panels were stored caught fire. Smoke from the burning warehouse was visible from Saarbrücken, 15 kilometers away. 200 firefighters fought
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