February, the 14th, 2008
Leading Russian bank to own part of Ruukki Group
Bank VTB, an open joint-stock company (OAO), a leading Russian bank, which has operations in more than 60 regions in Russia, in the person of the first vice chairman of the board if directors Mr Vadim Levin, and the company Procomex S.A., in the person of the general manager Mr Ahti Vilppula, have yesterday 12 February 2008 agreed on the entering of VTB as a shareholder of Ruukki Group Oyj by purchasing 10,07% of the shares.
The basis of this agreement is the common interest of the parties to develop the Russian forest industry through Ruukki. At the moment, the parties see each other as long-term investors of Ruukki and they are ready to support its growth and investment strategy in the Russian forest industry. In consequence, Ruukki can rely on VTB's knowledge and experience when realizing its local growth strategy.
The purchase of the shares will be completed in OMXHEX stock exchange in Helsinki, Finland, and the value of the shares is 76,9 million euro."
About Ruukki Group:
Ruukki Group focuses on wood-based industrial business operations. Currently the group operations are located mainly in Finland, but in future the targeted emphasis is principally in Russia. Ruukki Group Plc is listed on the Helsinki Stock Exchange. The company's share is quoted on the OMX Nordic Exchange under the Mid Cap segment in the Industrials sector.
For more information about Reval Hotel Neris:
SRV Russia Oy
Veli-Matti Kullas, tel. +358 (0)20 1455 274
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