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Thursday, 29.05.2025, 06:47
Rautaruukki to acquire Lithuanian steel frame company Gensina
Danuta Pavilenene, BC, Vilnius, 11.12.2008.
Print version
Print versionRautaruukki Corporation has signed an agreement to acquire the entire share capital of the Lithuanian steel constructor Gensina from its private owners. Gensina is active within the production and assembly of steel frames. The company's customers are international and local investors and construction firms in Lithuania. Established in 1997, Gensina has some 82 employees and its net sales in 2007 were some EUR 9 million euros.
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"With its strong market presence in Lithuania, the company we are acquiring will strengthen Ruukki's foothold in the Baltic construction market. The transaction will not only further Ruukki's frame and envelope project business both in Lithuania and the other two Baltic states, but also strengthen Ruukki's manufacturing network serving the Baltic states," says Saku Sipola, President of Ruukki Construction."
The parties have agreed not to disclose the transaction price. Subject to the approval of the regulatory authorities, the transaction is expected to be finalised by the end of 2008, reported BC SVP, Corporate Communications and Investor Relations of Rautaruukki Corporation Anne Pirilä.
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