Rautaruukki completes Steel-Mont acquisition

Finnish steelmaker Rautaruukki Corporation announced today the completion of Steel-Mont acquisition. The total purchase price is at around Euro 10 million. As reported by SteelOrbis early this week, Rautaruukki Corporation received approval from competition authorities to purchase the Slovakian company for Euro 10 million. Steel-Mont will be consolidated in Rautaruukki's reporting as of April 1, 2006. This acquisition, together with the new production plant to be opened in Hungary in spring 2006, will significantly increase Ruukki's capabilities in total deliveries in the central eastern European countries, the company sources reported.