As communicated in July, SSAB has agreed to divest Ruukki Construction’s business operations in Russia (OOO Ruukki Rus) to the Russian company OAO Salavatneftemash. The transaction has received the approval of the Russian competition authorities and has now been completed. The transaction excludes the right to the Ruukki brand.

The buyer is the Russian company OAO Salavatneftemash. Ruukki Construction’s divested business operations in Russia had sales of approximately SEK 400 million in 2017. The production facilities transferred in the transaction are located in Obninsk and Balabanova in the Kaluga region. In 2017, Ruukki Construction’s total sales were around SEK 5.8 billion.

“We can now focus on growing our market share in our current main market areas in the Nordics, Baltics and in Central Eastern European countries. Our strategy is to pursue profitable growth in our product businesses, Residential Roofing and Building Components. In the project business, Building Systems, we want to further improve profitability by developing our project and product portfolio. Our business operations in Russia were fully independent and so the transaction has no implications for our operations in other countries,” says Sami Eronen, President of Ruukki Construction.

Ruukki Construction’s business operations in Russia employed a total of some 630 people Around 45 employees in the roofing business are not being transferred under the transaction. Ruukki Construction had a total around 2,500 employees before divestment.

The expected loss of SEK 213 million on the divestment was recognized in the report for the third quarter of 2018 as items affecting comparability. Completion of the transaction has not greatly changed this amount.

Please login / register to post comments

news in steel

RRP – REYHER Rapid Prototyping supports component optimization

High costs during assembly, operations and maintenance can be avoided by optimization in the design phase, for joining technology too. The new 3D printing service RRP – REYHER Rapid Prototyping supports companies improving component design, reducing development costs and shortening time-to-market.

HYBRIT orders Norwegian electrolyzers for fossil free steel production in Luleå

Hybrit Development, a joint venture between SSAB, LKAB and Vattenfall, has ordered a hydrogen generation electrolyzer solution from Nel Hydrogen to the pilot plant in Luleå, Sweden.

Tibnor’s acquisition of Sanistål’s steel distribution business completed

SSAB’s subsidiary Tibnor has now comleted the acquisition of the steel distribution business of the Danish company Sanistål A/S, Denmark’s second largest steel distributor.

NUCOR TAPS DANIELI MI.DA. TECHNOLOGY FOR ITS STRATEGIC EXPANSION IN REGIONAL REBAR MARKETS

When exploring the opportunity to expand its presence in new regional markets in the Midwest and Southeast of the USA, Nucor immediately understood the benefits of the MI.DA. technology and ultimately chose Danieli to supply the complete technological equipment package for two MI.DA. plants, in Sedalia (Missouri) and Frostproof (Florida).