Rautaruukki establishes jv to develop its sheet business

Rautaruukki establishes jv to develop its sheet business

According to a statement released from Finnish steel producer Rautaruukki, the company signed an agreement with Relicomp Oy, GT-Systems Oy and Midinvest to establish a joint venture company named Sheet Metal Innovations (SMI) Oy. The new company, which is planned to be located in Suolahti, near Helsinki will be equipped with latest manufacturing technology to serve sheet metal producers. Rautaruukki, Relicomp Oy, Midinvest and GT-Systems Oy will have 24%, 49%, 20% and 7% shares respectively. This joint venture company will enable Rautaruukki to develop its service for its customers and its sheet business.