Wednesday, 30 Dec 2009
Ruukki announced plans to reorganize operations at its Mo i Rana plant in Norway, which makes shipbuilding profiles and flange profiles for windmill towers.

Ruukki will study the options, including the partial or entire closure of operations in Mo i Rana, available to correct the unit's financial performance. Worker consultation with the around 110 persons affected will be initiated in connection with the studies being made.

It said “Market conditions have remained difficult. During the second half of the year, demand in the shipbuilding industry has remained weak and the level of activity is estimated to remain low for a longer period.”

The Mo i Rana unit posted an operating loss of EUR 13 million for the first nine months of 2009.

Rautaruukki supplies metal-based components, systems and integrated systems to the construction and engineering industries. The company has a wide selection of metal products and services. Rautaruukki has operations in 27 countries and employs 12,200 people. Net sales in 2008 totalled EUR 3.9 billion.