Rautaruukki to invest in Ukraine and Romania

Finnish steelmaker Rautaruukki announced on Wednesday that it will hold capital market days in Budapest on September 27-28, 2006. During its presentations in Budapest, the company management will review the growth opportunities in the markets in Eastern Europe, Russia and Ukraine and also the growth potential for construction in these markets. In line with its expansion plans, Rautaruukki has announced investments totalling Euro 50 million in Ukraine and Romania. Once these are completed, Rautaruukki will be able to significantly increase its deliveries of commercial and industrial construction materials to its customers in Ukraine, Romania and Bulgaria. "Since 2003, in accordance with our new strategy, we have focused on construction solutions especially in central eastern Europe and Ukraine. The acquisition of Ventall has also given a strong footing in the rapidly growing Russian market. We believe that Ruukki's future success will increasingly be based on the business opportunities created for us by the growth in construction in Eastern Europe," said President and CEO Sakari Tamminen.