STOCKHOLM, Sweden, Feb. 17, 2003 (PRIMEZONE) -- AvestaPolarit:
-- Despite the sluggish world economy, demand in stainless steel
markets grew in 2002 following the decline in 2001. The first-half
of the year saw rising demand followed by a market slowdown after
the summer break, as it became apparent that the global economic
recovery would be delayed.
-- Both net sales and operating profit for the financial year were up
compared to 2001, as a result of higher prices and delivery volumes.
Net sales for 2002 amounted to EUR 3 002 million (EUR 2 977 million),
operating profit to EUR 232 million (EUR 141 million) and profit
before extraordinary items to EUR 219 million (EUR 131 million).
-- By the end of December Outokumpu Oyj had acquired over 99% of
AvestaPolarit shares and the share was delisted from the Stockholm
Stock Exchange. The shares will be delisted from the Helsinki Stock
Exchange as soon as Outokumpu has gained title as the sole owner of
all shares in AvestaPolarit.
For further information, please contact:
Jouni Gronroos, Executive Vice President - Finance
+358 (0)9 5764 5510 or +358 (0)40 504 5125
Hannele Obrink, Manager -- Investor Relations
+46 (0)8 613 4419 or +46 (0)70 652 1032
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