SSAB to buy Finland’s Ruukki for $1.6B

Jan 22, 2014 | 01:26 PM | Elfi Middelbeek

Tags  SSAB, Ruuki, steelmaker, steel, acquisition, Elfi Middelbeek

LONDON — Swedish steelmaker SSAB has agreed to acquire Finnish steel producer Rautaruukki Oyj (Ruukki) in a share exchange deal worth 10.1 billion Swedish krona ($1.6 billion), according to a joint announcement issued Jan. 22.

“There is ... a good synergy potential in the construction business, which offers profitable growth potential on top of the synergy benefits,” Sakari Tamminen, president and chief executive officer of Helsinki, Finland-based Ruukki, said in a statement.....

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