Finland-based steel company Rautaruukki Corporation (Ruukki) has announced the finalization of the sale of its two steel reinforcing businesses, Ruukki Betonstahl GmbH of Germany and Ruukki Welbond BV of the Netherlands, to Saudi Arabian steelmaker Al-Tuwairqi Group.
Rautaruukki has also stated that the transaction, which has received approval from the German competition authorities, marks the completion of the company's withdrawal from the reinforcing steel business that started last year.