Eastern European Markets
February, the 26th, 2008

Rautaruukki to deliver EUR 100 million steel structure order for football stadium in St Petersburg

Production started up again at Rautaruukki’s Raahe Works in Finland when shift workers returned to work at 6am on Saturday 23 February. Workers on the day shift returned to work at 7am today, Monday 25 February. Production was back to normal during the weekend and it is expected other operations will normalise during the course of today.

The unlawful strike that started on 21 February stopped hot-rolling at the works until Saturday morning. Steel production ran at half capacity during the strike.

Despite the strike, all functions essential to the personnel, processes and environmental safety were maintained.

The action was contrary to valid collective bargaining agreement. On 20 February, the Labour Court judged the trade union branch’s threat to call a strike on 21 February as unlawful and ordered the branch to pay the Federation of Finnish Technology Industries compensatory damages for breaking the commitment to industrial peace.

Separate information will be provided about the financial effects of the strike on the company once these become known.

Further information:
Sakari Kallo, Vice President, hot-rolled plate and strip products,
Ruukki Production, tel. +358 20 592 2210

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