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Rautaruukki Oyj (HEL:RTRKS) Press release 7 October 2008 at 15:00
Rautaruukki's Ruukki Construction division is to temporarily scale back the manufacture of heavy construction structures at the Ylivieska and Kalajoki plants in Finland. Production volumes are being adjusted during the end of this year to realign them with slightly lower than anticipated demand for heavy structures in the Nordic market. Projects currently being tendered for and under negotiation are expected to translate into plant deliveries by the turn of the year or in early 2009 at the earliest.
In this context, employer-employee negotiations concerning any lay-offs will start within a week. Any lay-offs are expected to last three months at the most and apply to approximately 50 persons.
For further information, please contact: Saku Sipola, President, Ruukki Construction, tel: +358 20 592 8979
Rautaruukki supplies metal-based components, systems and integrated systems to the construction and mechanical engineering industries. The company has a wide selection of metal products and services. Rautaruukki has operations in 25 countries and employs 14,990 people. Net sales in 2007 totalled EUR 3.9 billion. The company's share is quoted on the OMX Nordic Exchange Helsinki (Rautaruukki Oyj: RTRKS). The Corporation has used the marketing name Ruukki since 2004. www.ruukki.com
