Ruukki Group Plc, Stock Exchange Release, 20 November 2009 at 11:15 a.m.
RUUKKI GROUP WILL DIVEST ITS SHARES IN TERVOLAN SAHA JA HÖYLÄÄMÖ OY
Ruukki Group's subsidiary Ruukki Yhtiöt Oy has today entered into an agreement
to sell its 91.42% stake in Tervolan Saha ja Höyläämö Oy (“TSH”) to TSH as part
of TSH's directed acquisition of TSH's own shares, which was decided today. TSH
subgroup has two sawmill units in Finland, one in Tervola and one in Kittilä,
with consolidated revenue of about EUR 10.7 million in 2008.
The effective date for the transfer of the shares to TSH will be 31 December
2009. In conjunction with the deal, the call option agreement with TSH minority
shareholders will be dissolved.
The consideration for the shares totals approximately EUR 4.1 million, and it
will be paid in cash in December. TSH also distributes a dividend of about EUR
3.7 million to Ruukki Yhtiöt Oy. The transaction will not significantly impact
the Group income statement.
The divestment is part of the refocusing of the Group's Wood Processing business
(“Ruukki Wood”) as announced earlier this quarter in conjunction with the sale
of Lappipaneli Oy's assets.
RUUKKI GROUP PLC
Alwyn Smit
Chief Executive Officer
Ruukki Group is an industrial group focusing on minerals and wood processing
businesses. Ruukki Group Plc's shares are listed on NASDAQ OMX Helsinki and
traded in the mid cap segment, in the industrials sector.
For additional information, please contact:
Thomas Hoyer
Chief Executive Officer
Ruukki Yhtiöt Oy
Telephone +358 45 670 0491
www.ruukkigroup.fi
This stock exchange release is based on a translation into English of a document
written in Finnish. In case of any discrepancies, inconsistencies or
inaccuracies, the Finnish version of the release shall prevail.