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2009-11-04 08:10:00 CET 2009-11-04 08:10:09 CET REGULATED INFORMATION Ruukki Group Oyj - Company AnnouncementRUUKKI GROUP'S SUBSIDIARY LAPPIPANELI OY CONCLUDED THE SALE OF ITS SAWMILLING BUSINESSRuukki Group Plc, Stock Exchange Release, 4 November 2009 at 09:10 a.m. RUUKKI GROUP'S SUBSIDIARY LAPPIPANELI OY CONCLUDED THE SALE OF ITS SAWMILLING BUSINESS Ruukki Group's subsidiary Lappipaneli Oy has concluded the sale of its sawmilling assets to Pölkky Oy, Pölkky Metsä Kmo Oy and Kitkawood Oy in accordance with the preliminary agreement announced on 26 October 2009. The effective date for the transfer of fixed assets will be 31 December 2009 and 30 October 2009 for all the other assets. The consideration for Lappipaneli's gross assets totals EUR 14.6 million. The consideration will be paid in instalments, to major extent during the fourth quarter of 2009 and the first quarter of 2010. As part of the transaction, Lappipaneli Oy has given buyers warranties in relation to potential environmental liabilities, and has also recognised a provision of about EUR 0.2 million to cover potential future environmental analysis expenses. Ruukki Group recognises a gain on disposal of approximately EUR 2.0 million for this transaction. RUUKKI GROUP PLC Alwyn Smit Chief Executive Officer Ruukki Group is an industrial group focusing minerals and wood processing businesses. Ruukki Group Plc's shares are listed on NASDAQ OMX Helsinki and traded in the mid cap segment, in the industrials sector. For additional information, please contact: Thomas Hoyer Telephone +358 45 670 0491 Kalle Lehtonen Telephone +358 400 539 968 www.ruukkigroup.fi This stock exchange release is based on a translation into English of a document written in Finnish. In case of any discrepancies, inconsistencies or inaccuracies, the Finnish version of the release shall prevail. |
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