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Ruukki to Discontinue Operations at Mo i Rana Plant in Norway
Feb. 22, 2010 Rautaruukki has decided to discontinue operations at its Mo i Rana unit in Norway until further notice. The decision will affect 110 employees in the unit.
The company had previously disclosed that it would evaluate its options for future operation of the Mo i Rana unit, noting ongoing weakness in the shipbuilding industry.
The Mo i Rana unit, which makes shipbuilding profiles and flange profiles for windmill towers, posted an operating loss of EUR 30 million for 2009. Industry demand is expected to further decline this year as compared to the previous year.
According to the company’s plan, the Mo i Rana unit will be closed at the earliest convenience, by no later than mid-May 2010.
Rautaruukki supplies metal-based components, systems and integrated systems to the construction and engineering industries. With operations in 27 countries and around 11,700 employees, the company generated net sales of approximately EUR 2.0 billion in 2009. The corporation uses the marketing name Ruukki.