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2007-04-23 09:15:00 CEST 2007-04-23 09:15:00 CEST REGULATED INFORMATION Rautaruukki - Company AnnouncementRAUTARUUKKI STRENGTHENS ITS POSITION AS A SUPPLIER OF LHT EQUIPMENT THROUGH ACQUISITION OF APRÍTÓGÉPGYÁR ZRT. IN HUNGARYRautaruukki Oyj Stock Exchange Release 23 April 2007 at 10.15 RAUTARUUKKI STRENGTHENS ITS POSITION AS A SUPPLIER OF LHT EQUIPMENT THROUGH ACQUISITION OF APRÍTÓGÉPGYÁR ZRT. IN HUNGARY Rautaruukki Corporation has signed an agreement to acquire a majority holding in Hungarian company Aprítógépgyár Zrt. (AGJ) from the Hungarian sellers. The transaction still requires the approval of the competition authorities. The transaction is expected to be closed during May. AGJ's core business is the manufacture of components, such as booms, for use in earth-moving machinery and materials handling equipment; and production of heavy machinery. The company has three units located in Jászberény and Hatvan in Hungary. AGJ's net sales in 2006 were around EUR 43 million. Most of the net sales come from exports to leading Western European customers. AGJ has about 740 employees. ”Acquisition of AGJ supports implementation of our growth strategy in the lifting, handling and transportation equipment (LHT) customer segment. The acquisition will also benefit us in the form of new customers and business potential, as well as add to our manufacturing network in Central Eastern Europe,” says Markku Koljonen, President, Ruukki Engineering. Further information is available from: Mr Markku Koljonen, President, Ruukki Engineering, tel. +358 20 592 9105 Rautaruukki Corporation Taina Kyllönen VP, Corporate Communications Rautaruukki 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. Rautaruukki has operations in 23 countries and employs 13,000 people. Net sales in 2006 totalled EUR 3.7 billion. The company's share is quoted on the Helsinki Exchanges (Rautaruukki Oyj: RTRKS). The Corporation has used the marketing name Ruukki since 2004. www.ruukki.com DISTRIBUTION: Helsinki Exchanges Main Media www.ruukki.com |
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