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28/4/2008: Outokumpu's remaining copper tube assets sold to Cupori Group
Cupori Group has today signed a sale and purchase agreement with Oukokumpu Oyj whereby Outokumpu will sell its remaining copper tube assets to Cupori Group Oy, a company owned by the current top management of Outokumpu’s Copper Tube and Brass division.
The total consideration of the sale is some EUR 50 million. Subject to usual conditions, the transaction is scheduled to be closed mid May 2008.
The assets sold comprise the copper plumbing installation and industrial tube manufacturing companies in Pori in Finland, Zaratamo in Spain, Västerås in Sweden and Liège in Belgium, as well as the copper tube sales companies in France, Germany and Italy. The number of personnel in the sold companies is some 730. The buyer has informed Outokumpu about their intention to divide the business into two independently operating companies under different ownership after the transaction is completed.
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