Rautaruukki to take over Steel-Mont

Rautaruukki to take over Steel-Mont

Finland based steelmaker and steel constructions manufacturer Rautaruukki Corporation signed an agreement to takeover 100 percent of Slovakia's leading steel constructor Steel-Mont. The Completion of the acquisition requires approval from competition authorities. The transaction is expected to be concluded by the end of March 2006. The parties have not disclosed the price to be paid. Steel-Mont produces steel construction materials for industrial and commercial construction projects in Slovakia. The purchase of Steel-Mont will support Ruukki's goal to become one of the leading metal-based construction solutions supplier in the Nordic countries and central eastern Europe. Syneco Industri in Sweden, PPTH Steelmanagement in Finland and Metalplast in Poland, were among other major takeovers of the company in 2005.