May 11. 2006
Rautaruukki sells Metalplast Systems in MBO
Rautaruukki Corporation is selling the non-core business part of its Polish operations in MBO to the company's operative management and the private equity investor Tar Heel Capital. The transaction includes Metalplast Systems Sp z o.o. and covers e.g. the hot-dip galvanizing and container businesses, and related real estate. The debt free price is 10.3 million zloty (about 2.6 million euros). Completion of the transaction still requires the approval of competition authorities. The transaction is expected to be completed in June 2006.
In 2005 Ruukki Construction had in Poland net sales of about 66 million euros and employed 820 people. The divested businesses had net sales of about 8.5 million euros and employed 245 people.
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 (Rautaruukki Corporation: RTRKS). The Corporation has used the marketing name Ruukki since 2004.
For further information
Saku Sipola, President, Ruukki Construction
tel. +358 20 592 8979
VP, Corporate Communications
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