On January 8 Finnish steelmaker Rautaruukki (Ruukki) announced its acquisition of the entire share capital of Norwegian steel frame constructor Skalles Eiendomsselskap AS (Skalles) from its private owners, in a move aimed at strengthening its position in steel construction in the Nordic countries.
Skalles designs, manufactures and installs steel structures, and its net sales for 2008 are estimated at around €15 million. Skalles' fully-owned subsidiary, Skalles Mek Verksted AS, is one of Norway's leading steel frame suppliers for industrial and commercial premises.
The transaction, the value of which has not yet been disclosed, is expected to be finalized during February 2009.