OUTOKUMPU TECHNOLOGY OYJ PRESS RELEASE, MARCH 13, 2007
Outokumpu Technology Oyj's Board of Directors will propose to its shareholders at the Annual General Meeting, to be held on April 2, 2007, that the company's name be changed to Outotec Oyj. At the listing of Outokumpu Technology Oyj in October 2006, the company agreed with its former parent Outokumpu Oyj that it will change its name in June 2008 at the latest.
Outokumpu Technology is a renowned name in the global mining and metallurgical industry with a long history and strong track-record of designing and delivering hundreds of industrial plants over decades. The company is famous for its innovative and environmentally sound proprietary technologies, many of which have become industry benchmarks.
Changing the name to Outotec Oyj represents Outokumpu Technology's evolution from a technology division within Outokumpu to an independent listed company with own brand values and visual identity. "Outotec has a strong link to the company's history and expertise, which the customers have learned to trust. In addition, the company is already commonly spoken of and shortened as Outotec", the Board said.
"Outotec will be the name uniting all our global businesses and it provides us a platform for further growth. It will be representing technology leadership, innovativeness, reliability, and collaborative spirit with customers, which are our current brand values. We will further strengthen our image as a supplier of clean and sustainable technologies," explains Outokumpu Technology's President & CEO Tapani Järvinen.
Provided that the proposal is accepted by the Annual General Meeting, Outokumpu Technology's name will be changed to Outotec on April 24, 2007.
For further information please contact:
OUTOKUMPU TECHNOLOGY OYJ
Eila Paatela, Vice President - Corporate Communications
tel. +358 20 529 2004, mobile +358 400 817198