Finnish steelmaker Rautaruukki (Ruukki) has signed an agreement to acquire complete stakes of Lithuanian company Gensina, which produces and assembles steel frames for the construction industry.
"With its strong market presence in Lithuania, the company we are acquiring will strengthen Ruukki's foothold in the Baltic construction market," says Saku Sipola, President of Ruukki Construction.
The transaction is expected to be finalized by the end of 2008.