It is reported that Finland stainless steel maker Outokumpu announced to close in Germany Krefeld smelters plant. The last trading time is December 6th, 2013.

Outokumpu said the smelting plant is closed annually 600,000 tons of smelting capacity cuts, planned efficiency measures for the overall annual revenue of €50 million.

Until the end of 2017, the measure would save €450 million a year.

Due to weak demand in Europe, the price downturn and necessary to close the plant was to increase productivity measures according the reported.