18 december, 2006
13:20 CET
Rautaruukki strengthens position through acquisition of Ab Omeo Mekaniska Verkstad in Sweden
Rautaruukki Oyj Stock Exchange Release 18 Dec. 2006 at 14.20
Rautaruukki Corporation has signed an agreement to acquire the entire share
capital of AB Omeo Mekaniska Verkstad from five private owners for a debt-free
purchase price of about EUR 3.73 million. The transaction still requires the
approval of the competition authorities. The transaction is expected to be closed
in January 2007.
Located in Oskarström in Southern Sweden, AB Omeo Mekaniska Verkstad estimates
net sales to be around EUR 23 million for the financial year ending in April
2007. The company has 55 employees. AB Omeo Mekaniska Verkstad's core business is
welding and assembling booms used in materials handling equipment.
"This transaction will support implementation of our growth strategy and
strengthen Ruukki's market position by adding to our frame and boom solutions for
customers in the lifting, handling and transportation equipment segment," says
Markku Koljonen, President, Ruukki Engineering.
Further information is available from:
Mr Markku Koljonen, President, Ruukki Engineering, tel. +358 20 592 9105
Rautaruukki Corporation
Taina Kyllönen
VP, Corporate Communications
Rautaruukki 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. Rautaruukki has operations in 23
countries and employs 13,000 people. Net sales in 2005 totalled EUR 3.7 billion.
The company's share is quoted on the Helsinki Exchanges (Rautaruukki Oyj: RTRKS).
The Corporation has used the marketing name Ruukki since 2004.
DISTRIBUTION
Helsinki Exchanges
Principal Media
www.ruukki.com