Rautaruukki Corporation acquires Lithuanian steel frame company Gensina

Friday, Jan 02, 2009

Finnish metal-based components and systems supplier Rautaruukki Corporation (OMX Helsinki:RTRKS) said on Tuesday (30 December) that it's acquisition of the entire share capital of the Lithuanian steel frame company Gensina has been approved. Gensina is active within the production and assembly of steel frames. Established in 1997, Gensina has some 82 employees and its net sales in 2007 were some EUR9m(usd 12.6 m). The parties have agreed not to disclose the transaction price. Rautaruukki, headquartered in Helsinki, Finland, supplies metal-based components, systems and integrated systems to the construction and mechanical engineering industries. The company has 14,600 employees in 24 countries and reported net sales of EUR3.88bn(usd 5.4 b) in 2007.