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Rautaruukki Acquisition of Gensina Approved
12/31/2008 - Rautaruukki receives approval of its acquisition of the entire share capital of Gensina, a Lithuanian steel frame company.
Rautaruukki Corp. has received approval of its acquisition of the entire share capital of Gensina, a Lithuanian steel frame company, from the company's private owners.
Active in the production and assembly of steel frames, Gensina reported net sales of some EUR 9 million euros in 2007. Established in 1997, the company has some 82 employees and its customers are international and local investors and construction firms in Lithuania.
The acquisition furthers Ruukki's frame and envelope project management business in Lithuania and the other Baltic states. It will also strengthen Ruukki's manufacturing network serving the Baltic states.
Rautaruukki supplies metal-based components, systems and integrated systems to the construction and engineering industries. The company has operations in 26 countries and employs 15,000 people. Net sales in 2007 totaled EUR 3.9 billion. The corporation uses the marketing name Ruukki.
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