STOCKHOLM, Sweden, Sept. 24, 2002 (PRIMEZONE) -- Discussions between AvestaPolarit and Carl Bennet regarding the possibility of continuing business operations at the Degerfors melting shop, after existing production there is discontinued next year, have been concluded without reaching an agreement.
The parties were unable to reach any agreement regarding the conditions for setting up the planned new business, which would have resulted in the Degerfors melting shop gradually being converted to a smaller plant focusing on producing semi-finished products for tool steels. The parties' respective views on how to reach an agreement proved irreconcilable, and it was therefore decided to end the discussions.
AvestaPolarit will continue to take an active role in the numerous initiatives currently under way at Degerfors aimed at stimulating new business ventures and thereby helping create new job opportunities for those affected by the impending closure of the melting shop. Meanwhile, work is also under way to finalise manning levels for AvestaPolarit's Hot Rolled Plate business unit, which is to continue to develop its operations at the site. The news of AvestaPolarit's planned acquisition of ThyssenKrupp Nirosta's quarto plate business, announced last week, represents an important step forward in these development plans.
For further information, please contact:
Katarina Lybeck, Senior VP - Corporate Communications, Stockholm tel: +46 8 613 3617 or +358 40 503 0750 e-mail: katarina.lybeck@avestapolarit.com
AvestaPolarit Corporate Management Linnoitustie 4 A, PL 270, FIN-02601 Espoo, Finland. Tel: +358 9 5764 5511, fax: +358 9 5764 5555 Vasagatan 8-10, PO Box 16377, SE-103 27 Stockholm. Sweden Tel: +46 8 613 3600, fax: +46 8 613 3669 Registered office: Espoo, Business ID: 0823312-4
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