Finnish steelmaker Rautaruukki (Ruukki) has announced the completion on Thursday, February 27, of its acquisition of the entire share capital of Norwegian steel frame company Skalles Eiendomsselskap AS (Skalles) from its private owners.
Ruukki said in a company statement that the acquisition strengthened Ruukki's market position in the Nordic countries and particularly in Norwegian steel construction. The Finnish company added that Skalles' business complements its own customer base and product offering.
Skalles' total deliveries include the design, manufacture and installation of steel structures. The company has some 50 employees and its net sales for 2008 were approximately €16 million. Skalles is located in Fredrikstad, to the south of Oslo.