Rautaruukki to acquire Metalplast-Oborniki
Finnish steel producer Rautaruukki Oyj announced yesterday that it received official approval to acquire Polish company Metalplast-Oborniki Holding S.p. Rautaruukki currently holds a 16.6% stake in the Polish company, and the Finnish steelmaker indicated that the recent approval will allow it to proceed with plans to acquire a 100% stake in Metalplast. Rautaruukki will purchase shares held by an international equity investor group as well as the shares of Metalplast management and personnel. The deal regarding the takeover is expected to be completed by the end of June 2005. Metalplast is Poland's leading metal-based construction panel producer.