Rautaruukki increases its stake in Presteel

Rautaruukki increases its stake in Presteel

Finnish steel producer Rautaruukki Oyj has increased its stake in its plate subsidiary Presteel by purchasing its shares from Metso Corporation. Accordingly, Rautaruukki shares in Presteel increased from 55% to 80.1% and Metso Corporation's shares fell from 54% to 19.9%. The parties did not disclose the purchase price. Presteel was established by Rautaruukki and Metso in 1997.