January 27, 2005
RAUTARUUKKI ACQUIRING POLISH METALPLAST
Ruukki Construction reinforces its position in growing market in Central Eastern Europe Rautaruukki Corporation is acquiring the 50% holding of an international private equity investor group in the Polish company Metalplast-Oborniki Holding Sp. Z o.o., under a pre-emption clause in the company's articles of association. The authorities must give their approval before the transaction is finalized. Rautaruukki was involved in the privatization of Metalplast in 1995 and has been a shareholder since then. Rautaruukki currently owns 16.6% of Metalplast.
Rautaruukki has also made an offer to purchase the 31% holding of the Polish State and is committed to making an offer for the shares owned by the company's management and personnel, with the objective of raising its holding in Metalplast to 100%.
Metalplast is Poland's leading manufacturer of metal-based construction panels. Metalplast holds a major market position not only in Poland but also in the Baltic countries and Russia. Its product range includes sandwich panels used in wall and roof structures with polyurethane, mineral wool or polystyrene cores between steel sheet. These panels are used especially in the construction of commercial property and are a useful addition to Ruukki's existing range of building products and systems. With this transaction Ruukki Construction will become one of the leading suppliers of panels with a mineral wool core in Europe. In addition, Metalplast has a hot dip galvanizing unit and fabrication of steel constructions. Metalplast had estimated net sales in 2004 of EUR 65 million and had 685 employees at the end of 2004.
Ruukki Construction's goal is to strengthen its position in the different stages of the construction value chain and to focus in future on system and full-scope deliveries. It aims to grow in the Central Eastern European market. "Metalplast helps us meet these goals. The company acquisition boosts our presence and strengthens our delivery and service capabilities in a strategically important market area. It gives a particular boost in the growth areas in commercial construction, which are commercial and logistics construction, airport construction and industrial construction, states Lauri Rautala, President of Ruukki Construction.
Mr. Mikko Hietanen, CFO, Rautaruukki Corporation, tel. +358 20 592 9030
Mr. Lauri Rautala, President, Ruukki Construction, tel. +358 20 592 9144
VP, Corporate Communications
Ruukki supplies components, systems and total solutions to the construction and mechanical engineering industries. The company has a wide selection of products and services in metal products. Ruukki has operations in 24 countries and employs 12,000 people. Net sales in 2003 totaled EUR 3 billion. The company's share is quoted on the Helsinki Exchanges (Rautaruukki Corporation: RTRKS).
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