Outokumpu divests its branch distribution business in Mexico

25 June 2024

Outokumpu has agreed on selling its branch distribution business in Mexico City, Guadalajara and Monterrey  formerly known as Outokumpu Mexinox Distribution  The company reached an agreement with Prominox, the largest stainless-steel distributor in Mexico

stores and sells stainless steel to the Mexican market. They are under the operation of Outokumpu’s business area Americas.The divestment of the business is due in part to dedicate more resources to the strategic areas of the Americas as the warehouses serve largely smaller volumes.

“We are delighted to incorporate Outokumpu’s solid distribution business into Prominox and welcome its amazing crew with open arms,” says Ivette Autrique, President, Prominox. “We are confident that by adding the strategic locations and customer base to our portfolio, we are reinforcing our position as the leading stainless-steel distributor in Mexico. Our long and ongoing partnership with Outokumpu will be key to ensure a smooth transition. Welcome to the team!”

Outokumpu will continue to fulfill customers’ orders that are served by OMD until the transaction with Prominox is finalized, after which orders will be transferred to Prominox.

 

Source:outokumpu.com