Rautaruukki

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Rautaruukki Oyj
TypeJulkinen osakeyhtiö
IndustryBasic resources, Metal industry
Founded1960
Headquarters,
Area served
Worldwide
Key people
Reino Hanhinen (Chairman), Sakari Tamminen (President and CEO)
ProductsManufacture and supply of metals and metal products
RevenueIncrease€2.798 billion (2011)[1]
Increase (€22 million) (2011)[1]
Decrease (€79 million) (2010)[2]
Total assets€2.539 billion (end 2010)[2]
Total equity€1.389 billion (end 2010)[2]
Number of employees
11,820 (average, 2011)[1]
Websitewww.ruukki.com

Rautaruukki Oyj using the marketing name Ruukki is a Finnish company, headquartered in Helsinki, which manufactures and supplies metal-based components and systems to the construction and engineering industries. In 2014 Swedish SSAB bought Ruukki.

Rautaruukki steel factory in Raahe Jul2009 001
Four employees of Ruukki before the rolling mill in Hämeenlinna

The company was founded in 1960 by the Finnish Government to provide the steel supply needed by the nation's heavy industries. Since part-privatization in 1994, the state has gradually decreased its holding in Rautaruukki.The firm consists of three business areas: construction, engineering and metals. Rautaruukki produces a range of products for clients in various industries, including cabins and chassis for heavy vehicles, hot rolled steel plates and coils, roofing sheets and building and bridge structures.

History[edit]

1960s[edit]

Rautaruukki was founded by the Finnish government in 1960. Also Outokumpu, Valmet, Wärtsilä, Rauma-Repola and Fiskars were involved in the company's birth. The main purpose for the new company was to guarantee the availability of raw materials for the Finnish metal industry, e.g. ship building. Rautaruukki's steel mill in Raahe did not use the traditional ingot casting method which was still used in other western countries but produced steel with the cost-efficient continuous casting technique. The company grew from six people employed in 1960 to more than 1,700 by the end of the 1960s.[3]

1970s[edit]

In the 1970s Rautaruukki portfolio expanded to sheets and pipe products because it wanted to reach a wider range of customers. A cold rolling mill was established in Hämeenlinna where tube production was started. A second blast furnace was also opened in 1976 in Raahe. In the end of the decade Rautaruukki had over 7,000 employees.[3]

1980s[edit]

Rautaruukki began to grow in Western Europe by establishing sales offices and making acquisitions. It bought a colour-coating works called Metalcolour A/S from Denmark, a steel wholesale business called CCB-Gruppen from Norway and a tube mill called Schmacke Rohr GmbH from Germany. In 1989 Stelform A/S (a new cold-formed section production plant) was established in Denmark. In the end of 1980's Rautaruukki employed almost 10,000 people.[3] In 1989 Rautaruukki became a publicly traded company.

1990s[edit]

In the 1990s Rautaruukki invested to increase the degree of production's upgrading. It also entered the construction business by acquiring Finnish steel roof manufacturer called Rannila. The markets in Eastern Europe were opened first in the Baltics and Poland, followed by Russia, Ukraine, the Czech Republic and Hungary. In the end of the decade, Rautaruukki had 5,000 employees outside Finland, employing all together over 12,000 persons.[3]

2000s[edit]

When Sakari Tamminen started as a new CEO in January 2004 he began a wide renewal program. All the companies in Rautaruukki Corporation began using Ruukki as their marketing name. According to the new strategy Ruukki began to focus on special steel products and on the solutions businesses in the construction and engineering industries. Ruukki executed demanding construction and engineering projects around the world.[3]

The acquisitions in the 2000s included Velsa (2004), Metalplast and Syneco Industri AB (2005) and PPTH, OOO Ventall, Omeo, AZST-Kolor and Steel-Mont in 2006. Ruukki started in China in 2005. It opened the first sales office in Shanghai in 2009, now there is office also in Beijing.

2010s[edit]

In May 2011 Ruukki corporation's organization was renewed, it now has three divisions: Ruukki Construction, Ruukki Engineering and Ruukki Metals.

In 2011 Ruukki introduced new product, an energy panel which helps to improve the energy rating of buildings and opened a sales office in Mumbai.

In 2014 Swedish steelmaker SSAB acquired Finland's Rautaruukki Corp.

Ownership[edit]

The largest shareholders for Rautaruukki Corporation on 31 December 2011 were:[4]

  1. Solidium Oy 39.67%
  2. Ilmarinen Mutual Pension Insurance Company 3.72%
  3. Varma Mutual Pension Insurance Company 2.51%
  4. The State Pension Fund 1.39%
  5. Odin - Funds 1.03%

References[edit]

  1. ^ a b c "Financial performance, Annual Report 2011". Rautaruukki. Archived from the original on 13 December 2012. Retrieved 23 May 2012.
  2. ^ a b c "Annual Results 2010". Rautaruukki. Retrieved 6 February 2011.
  3. ^ a b c d e "Ruukki from the 1960s to the present day". Rautaruukki. Retrieved 9 February 2012.
  4. ^ "Shareholders". Ruukki. 30 April 2012. Archived from the original on 31 October 2012. Retrieved 29 May. Check date values in: |accessdate= (help)

Further reading[edit]

External links[edit]