“The divestiture will clarify our corporate structure and will complete the arrangements started last year to exit from long steel products. Reinforcing steel operations serve construction industry though there are no substantial operational synergies in production or sales with our construction business. We continue to focus on value-added products and solutions in the growing markets of Central Eastern Europe, Russia and Ukraine”, says Mr. Sakari Tamminen, President and CEO of Rautaruukki Corporation.
Bosian Time, S.L., is an investment vehicle wholly owned by Mr. Francesc Rubiralta Rubió, whose family are the controlling shareholders of Celsa Group, a group of leading steel long-products producers in Spain, Poland and the UK. Bosian Time is independently incorporated and separately financed from the Celsa Group.
Ruukki supplies metal-based components, systems and integrated systems to the construction and mechanical engineering industries. The company has a wide selection of metal products and services. Ruukki has operations in 23 countries and employs 12,000 people. Net sales in 2005 totalled EUR 3.7 billion. The company’s share is quoted on the Helsinki Exchanges. The Corporation has used the marketing name Ruukki since 2004.
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