releases

Eastern European Markets

PRESS RELEASE
April the 19th, 2012

Outokumpu – All charges related to export practices to Russia dismissed

Kouvola Court of Appeal in Finland has dismissed all charges pressed against Outokumpu and three of its employees for alleged money laundering in connection with export practices to Russia during 2004-2006.

Corporate General counsel Kimmo Karihtala: ”We are very pleased that also the Court of Appeal has now given its verdict. This has been a long process which has required a lot of company resources during many years. The case has been particularly difficult for the people under suspicion and their families.”

In March 2007, Finnish Customs authorities initiated a criminal investigation into the Group's Tornio Works' export practices to Russia. The process of considering possible charges was completed in November 2010. The case was taken to court in March 2011 as charges were pressed against Outokumpu and five of its employees. The District Court of Kymenlaakso dismissed all the claims of the prosecutor in its verdict handed down on 22 June 2011. The prosecutor appealed against the verdict related to Outokumpu and three of its employees. The Kouvola Court of Appeal dismissed all charges by the prosecutor in its verdict today.

About Outokumpu:
Outokumpu is a global leader in stainless steel with the vision to be the undisputed number one. Customers in a wide range of industries use our stainless steel and services worldwide. Being fully recyclable, maintenance-free, as well as very strong and durable material, stainless steel is one of the key building blocks for sustainable future. Outokumpu employs some 8 000 people in more than 30 countries. The Group’s head office is located in Espoo, Finland. Outokumpu is listed on the NASDAQ OMX Helsinki.

For further information:
Saara Tahvanainen, VP – External Communications and Media Relations
tel. +358 9 421 3265, mobile +358 40 589 0223

www.outokumpu.com


Compiler´s choice - More News Releases

Archive 2005. News Releases