Rautaruukki completes acquisition of Russian Ventall

Finnish steelmaker Rautaruukki Corporation announced today that it completed the acquisition of Russia's leading steel constructor OOO Ventall. The price for the shares is Euro 97.5 million. The deal covers Rautaruukki's assumption of the company's interest-bearing debts of Euro 3 million. Rautaruukki received the approval of competition authorities for the purchase of OOO Ventall in mid May. OOO Ventall will be consolidated in Rautaruukki's reporting from 30 June, 2006. Located in Obnisk in the Kaluga region, Ventall is the leading steel constructor in Russia.