08/02/2011

Rautaruukki to change its legal corporate structure

The arrangement is purely an administrative one under which the group will reorganise its corporate structure to correspond to its existing businesses.

The entire business of all the Finnish units mentioned above will be transferred to the new companies. The personnel will transfer without any change of employment benefits. The arrangements do not apply to the group's units outside Finland.

The demerger will have no impact on Rautaruukki Corporation's financial reporting. The reporting segments will continue to be the construction business (Ruukki Construction), the engineering business (Ruukki Engineering) and the steel business (Ruukki Metals).

Rautaruukki Corporation will continue providing corporate support functions.

Source: Rautaruukki Corporation