Rautaruukki News

"If the exchange offer for all the shares in Rautaruukki announced by SSAB on 22,January 2014 is completed, the ownership of SSAB in Rautaruukki would, upon the completion of the settlement trades of the shares tendered into the exchange offer by 5, May 2014 (including the acceptance of the exchange offer by Rautaruukki's largest shareholder Solidium Oy, in accordance with the undertaking provided in advance by Solidium Oy) exceed 50 percent of all the shares and voting rights in Rautaruukki. SSAB would, upon the completion of the settlement trades of the shares tendered into the exchange offer by 5 May 2014 gain the hold of 70,639,731 of Rautaruukki's shares, which would equate to 50.40 percent of the total outstanding shares and votes in Rautaruukki.

Steel and grain exports continue to flow from key global supplier Ukraine via Black Sea terminals with ports operating normal schedules, despite concerns raised by the tense political backdrop, officials and traders said on Tuesday. Ukraine exports grain, steel, coal, chemicals, fuel and petroleum products, machinery and transport equipment. Its ports have shipped some 22.7 million tonnes of various cargoes since the start of 2014, roughly equal to turnover by the same date a year ago. Political instability and violence had caused some traders in Ukraine, the world's third-biggest maize exporter, to hold back from agreeing new contracts, while Russian maize export prices have been rising for two weeks.

The Lifecycle Services (LCS) unit of STX Finland has entered an agreement for push barge fleet modernization on April 29 with Aspo Group member ESL Shipping. The agreement covers the docking and modernization work on two push barges and four barges. In February 2011, ESL Shipping signed a long-term agreement with Rautaruukki for the marine transport of raw materials on the Baltic Sea, and for this reason ESL Shipping announced that it will modernize its existing push barge fleet during summer 2011. Work shall be carried out on the Arctech Helsinki Shipyard. Push barge MS Rautaruukki and barge Tasku arrived at the Helsinki shipyard yesterday, and the next barge will arrive in about a week. Work will start immediately and will continue until the end of August.

Steel exports to the USA accounted for just over 2.5 per cent of Rautaruukki's turnover in 2001. The Group supplied a total of some 4.7 million tonnes of steel last year, and just over 80,000 tonnes of this went to the USA. The US decision to impose tariffs on steel imports will not therefore have a major direct impact on Rautaruukki's business operations. Rautaruukki has alternative plans for sales to compensate for the exports to the USA. It is thought that the impact of the US decision to impose import tariffs, which was widely anticipated by the steel markets, has already been passed on to steel prices, which are low, at the end of 2001 and the start of this year. For that reason the US decision is not expected to have any major impact on product prices in Europe.

Finnish exports and imports were almost at a standstill last week as a strike over a wage claim by transport workers supported by stevedores and seamen went into a second day. The state labor mediation office said no new talks had been scheduled between unions and employers. Harri Tuulensuu, director of the Federation of Finnish Master Stevedores, said municipal ports were for the most part closed, although an insignificant volume of traffic was moving in Helsinki and Hamina, due to certain special agreements. A few industrial harbors linked to the refineries of energy group Fortum and steel group Rautaruukki were still operating as their stevedores were not members of the striking AKT union. But due to the seamen's sympathy strike they too could face difficulties, Tuulensuu said.

Finnish exports and imports were almost at a standstill last week as a strike over a wage claim by transport workers supported by stevedores and seamen went into a second day. The state labor mediation office said no new talks had been scheduled between unions and employers. Harri Tuulensuu, director of the Federation of Finnish Master Stevedores, said municipal ports were for the most part closed, although an insignificant volume of traffic was moving in Helsinki and Hamina, due to certain special agreements. A few industrial harbors linked to the refineries of energy group Fortum

Companies affected by the strike launched by about 3,000 members of the Finnish Union of Salaried Employees (TU) told the Finnish News Agency (STT) that the industrial action would have an impact within just days. Juha Heikinheimo, the head of the cruise and ferries division of Norwegian shipbuilder Aker Yards, said the company's Finnish yards, with a total workforce of about 4,000 people, would grind to a halt in a day or a couple of days. Outokumpu said its stainless steel production would halt very quickly while Rautaruukki, another Finnish steelmaker, assured that it could carry on with production but would have to shut down hot rolling and cutting lines. Boliden said production at its Finnish sites would continue thanks to extraordinary measures.

The joint staff negotiations concerning Rautaruukki’s Group Administration have been seen to completion. As a consequence of them, the total number of just over 100 Group Administration staff will be decreased by one fifth in line with the objective. The staff reductions will be carried out by means of pension arrangements, terminations of fixed-term employment relationships and transfers to new positions.

Rautaruukki Oyj will to deliver 25,000 tonnes of shipbuilding plate to Kvaerner Masa-Yards Oy. Rautaruukki will begin delivering the steel in April to Masa-Yards' shipyards in Helsinki and Turku, Finland. Kvaerner Masa-Yards agreed in December to build a ferry that can carry 2,800 passengers for Norwegian cruise operator Color Line A/S. The ferry, with a gross tonnage of 74,600 tonnes is expected to be delivered in December 2004. The ferry will be built at the Masa-Yards shipyard in Turku.

Rautaruukki Group of Finland is the largest steel company in Scandinavia with 13,000 employees and an approximate annual turnover of $2.7 billion. While this is, essentially, a small company among the consolidated behemoths of the steel industry, Rautaruukki comes up big in the important areas: quality and profit. Shipbuilding, stripped to its bare essence, starts and ends with steel. From the ceremonial “first cut” through its eventual evolution at the hands of breakers to razor blades, steel – as much as any other factor – directly determines if the multi-million, multi-year investment in a vessel is a profitable one. Ensuring the original quality and long-term care and integrity of the ship’s steel is central to every quality owner’s repair and maintenance plan.

The close cooperation of the Finnish Maritime industry is evidenced in the highly capable icebreaking ships that it produces. Icebreakers are essential to Finland’s existence, as the specialized ships enable the country to keep its shipping lanes operational during the harshest winter months. However, traditional icebreaker design made for poor navigating vessels in open water, and thus were rendered useful during only the winter months. This was acceptable, but very expensive, as icebreakers by nature represent a significant maintenance challenge and cost. The solution: creating a new design icebreaker that could be used, profitably, year-round.

The new rolling line at Fundia Nedstaal B.V.’s rolling mill was inaugurated in the Netherlands on Wednesday. The wire rod production of the company has now been centralised in a single combi mill instead of the previous two rolling lines. than before. President and CEO Mikko Kivimäki. at the rolling mill, and decreases maintenance costs. water. a year. line is 70 metres per second, i.e. 250 km/h. main installations were carried out in May and June. in the line. The total cost of the investment is EUR 11 million. end products for the automotive and engineering industry. such as adjustable wrenches or pliers. Together with Fundia Wire in Finland, Fundia Nedstaal B.V. ball bearing wire rods in Europe. European producer of valve spring wires. people. products.