On February 4, Finnish steel producer Rautaruukki Corporation (Ruukki) announced that it will divide its Finnish operations into four different companies.
Accordingly, Ruukki's construction business, engineering business, steel business and stainless steel and aluminium trading business will each act as separate business entities from May 1, 2011. Rautaruukki Corporation will act as the parent company of the new companies.
Ruukki said that the arrangement is purely an administrative one under which the group will reorganise its corporate structure to correspond to its existing businesses. The arrangements do not apply to the group's units outside Finland.