Rautaruukki
RAUTARUUKKI TO STREAMLINE ENGINEERING OPERATIONS IN HUNGARY
Rautaruukki / News Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Rautaruukki Oyj Stock exchange release 6 May 2008 at 10.30 RAUTARUUKKI TO STREAMLINE ENGINEERING OPERATIONS IN HUNGARY Rautaruukki's engineering division, Ruukki Engineering, is to streamline operations at its Hungarian unit, Ruukki Tisza Zrt, to improve profitability. Better profitability will be sought by cutting overheads and by improving organisational function. Efficiency actions are part of the division's productivity and profitability improvement programme, which aims at improving the division's operating profit by EUR 20 million in 2008. Overheads will be cut to lower the unit's cost structure. It has been agreed to cut the number of white collar jobs by a total of 190 during the course of this year and next. Reduction relates to the administrative staff. A new enterprise resource planning system (ERP) will be introduced at the Hungarian unit as part of efficiency improvement actions. Deployment of Ruukki's common systems and ways of working at the unit will reduce overlapping work and simplify administrative structures. -The Hungarian unit has an important role in our growth strategy. A new organisational structure and the introduction of new systems call for different skills than earlier. This means staff retraining and adjusting staff numbers to improve profitability. We're offering employees an opportunity to retrain for new jobs on the production side at Ruukki Tisza Zrt, says Tommi Matomäki, President, Ruukki Engineering. Rautaruukki acquired a majority stake in Ruukki Tisza Zrt in May 2007. The company has production sites in Jászberény and Hatvan in Hungary and is part of Ruukki Engineering division. Ruukki Tisza Zrt has 992 employees, including hired-in workers. For further information, please contact: Tommi Matomäki, President, Ruukki Engineering tel. +358 20 592 8809 Rautaruukki Corporation Anne Pirilä SVP, Corporate Communications and Investor Relations Rautaruukki supplies metal-based components, systems and integrated systems to the construction and engineering industries. The company has a wide selection of metal products and services. Rautaruukki has operations in 24 countries and employs 14,600 people. Net sales in 2007 totalled EUR 3.9 billion. The company's share is quoted on the OMX Nordic Exchange Helsinki (Rautaruukki Oyj: RTRKS). The Corporation uses the marketing name Ruukki. www.ruukki.com DISTRIBUTION OMX Nordic Exchange Helsinki Main media www.ruukki.com 06.05.2008 Financial News transmitted by DGAP ----------------------------------------------------------------------
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