On November 3, the Finnish steelmaker Rautaruukki (Ruukki) announced that it will open its first sales office in Turkey, as a result of which it will then have operations in a total of 27 countries.
According to the compnay's statement, expanding its sales network into Turkey will enable Ruukki to improve the quality of its customer service and shorten delivery times. Expansion of the business area will bring Ruukki closer to its strategic intent of becoming one of Europe's leading providers of special steel products.
"The dynamic Turkish market, which includes much industrial production, is an interesting one and we consider the market has strong potential for our special steel products. The opening of our new sales office not only brings us within closer reach of existing and new customers, but also supports Ruukki's strategy to extend its customer base for special steel products in Europe," said Kari Lehtinen, Senior Vice President Sales of Ruukki Metals.
A supplier of metal-based components, systems and integrated systems to the construction and engineering industries, Rautaruukki posted net sales of €485 million in the third quarter of this year, which is 51.3 percent lower than the year-ago period, while its operating loss amounted to €54 million, compared to an operating profit of €197 million registered in Q3 2008.