Finnish steelmaker Rautaruukki (Ruukki) has announced the sale of its color coating line in Gävle, Sweden to the Swedish company Trelleborg Rubore AB.
The color coating line in Gävle produces coated special products primarily for the automotive industry. The 35 employees at the line will be transferred to the buyer company following completion of the transaction that took place on November 11, 2008.
According to Ruukki, the transaction will have a positive impact of around €2 million on earnings, which it will recognize during the fourth quarter of this year.
The transaction is part of the company's structural change and is in line with Ruukki's strategy to divest units not forming part of its core business.
Rautaruukki sells Swedish color coating line
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