Ruukki to sell off assets and leave core activities

"These are assets which do not fit into our strategy. They are redundant, as we do not intend to develop in this direction," said Saku Sipola, president of Ruukki Construction. It will sell companies specializing in flame zinc-plating and containers, as well as their cooperating entities. "We will obtain EUR 2.6 million from this source," said the president of the company. Part of the asset sales will be MBO, while the remainder will be acquired by private equity fund Tar Heel Capital. Ruukki will focus on developing its core activity of the production of steel constructions, as demand for this product is going up. "Efficiency of the Polish plant is insufficient. We want to boost it," said Sipola. He refused to reveal the cost of the potential investment. (Puls Biznesu, p. 10) M.M.