Rautaruukki merges its subsidiaries
Tuesday, 03 August 2004 14:23:09 (GMT+3)
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Rautaruukki merges its subsidiaries
Finnish steel producer Rautaruukki has recently announced that it has merged its subsidiaries Ranilla Steel Oy, Asva Oy, Oy JIT-Trans Ltd, August Lindberg Oy and SKJ-yhtiöt Oy under Rautaruukki Corporation.
Finnish producer announced that liabilities and assets of all these companies are merged into Rautaruukki Corporation.
The company announced on February 10, 2004 that it would merge its subsidiaries in August.
The company officials stated that the merger will simplify group's structure and reduce fixed costs.
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