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Rautaruukki’s Negotiations Conclude

Maritime Activity Reports, Inc.

August 16, 2002

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.

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