Rautaruukki, a Finland-based company that supplies metal-based components, systems and integrated systems to the construction and engineering industries, is planning to reorganize operations at its Mo i Rana plant in Norway.
A press release by the company says that the plant, which produces shipbuilding profiles and flange profiles for windmill towers, posted an operating loss of €13 million for the first nine months of 2009. Stressing that the demand in the shipbuilding industry has remained weak in 2009 and is expected to stay so for a long period, Rautaruukki says it will study the options, including the partial or entire shut down of the plant, the workplace of around 110 employees.
Rautaruukki has operations in 27 countries and employs 12,200 people. The company's net sales in 2008 totaled €3.9 billion.