Financial Times spoke with Mika Seitovirta who is seen as the architech of what is set to be a global stainless leader in new Outokumpu (OMX:OUT1V). He continues to preach investor patience. That has been running thin since the Inoxum merger didn’t go through just like that and now the company is faced with the task of trying to close the divestment of the important Terni unit in Italy within the next six months in a difficult environment.
Add this to the fact that the company has been loss making for a number of years already, trailing many peers and it is no wonder the stock market price has been under pressure. It can still take at least a couple of years to start to see tangible results with planned closures also set to weigh on the bottom line. Outokumpu did pretty well with its Talvivaara divestments so far where as Fennovoima stake seems to be less attractive at the moment. Chromium mine expansion in Kemi on the other hand appears to be on track.
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