HELSINKI, 12-Jan-2017 — /EuropaWire/ — Outokumpu and Outotec have reached an agreement regarding innovations on ferroalloys technology and the related license fees to Outokumpu.
The agreement follows the arbitral award of August 28, 2015 which confirmed that Outokumpu and Outotec are the joint owners of the disputed innovations. With the agreement, both parties withdraw from their claims. Outotec is granted an exclusive right to sell and license the relevant innovations and technology against an agreed license fee payable to Outokumpu. Outokumpu retains the right to use the innovations in its own business. The agreement and the related license fees have no impact on Outokumpu’s financial guidance or targets.
For more information:
Saara Tahvanainen, tel. +358 40 589 0223
Outokumpu is a global leader in stainless steel. We create advanced materials that are efficient, long lasting and recyclable – thus building a world that lasts forever. Stainless steel, invented a century ago, is an ideal material to create lasting solutions in demanding applications from cutlery to bridges, energy and medical equipment: it is 100% recyclable, corrosion-resistant, maintenance-free, durable and hygienic. Outokumpu employs 11,000 professionals in more than 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki.