Outokumpu, a leading stainless steel manufacturer in Europe based in Finland, has reached a long-term extension negotiation with ArcelorMittal Nippon Steel (AM/NS) for their partnership in the hot rolling procurement on mutually acceptable terms until October 1, 2051.

The contract requires four years prior written notice with the earliest effective termination date on October 1, 2042.

With the deal, Outokumpu expanded its market share to the Americas. The transaction included melt shops and cold rolling production lines in Calvert, Alabama, while hot rolled products continued to be sourced externally.