On February 19, Finnish steelmaker Ruukki announced that it has decided to discontinue operations until further notice at its Mo i Rana unit in Norway. The unit makes shipbuilding profiles and flange profiles for windmill towers.
According to the plan, the unit will be closed at the earliest convenience, by no later than mid-May 2010. This decision will affect 110 employees in the unit.
According to the company's statement, demand in the shipbuilding industry has been weak and the Mo i Rana unit posted an operating loss of €30 million for 2009, and demand in the shipbuilding industry is expected to decline this year compared to the previous year.