Ruukki Group Plc has sold its remaining wood-processing business by divesting its 51% holding in Finnish sawmiller Junnikkala Oy to the latter’s minority shareholders for €6m.
Junnikkala operates sawmills in Kalajoki (200,000m³ capacity of pine and spruce) and Oulainen (90,000m³ capacity of small diameter pine) as well as a further processing unit.
Junnikkala recorded sales of €59.6m for the year ended December 31 and has 111 employees.?
The deal needs approval from a Ruukki extraordinary general meeting.
Ruukki said the sale transforms the company into an integrated chrome producer focused on growth, with a FerroAlloys business in southern Africa and a Speciality Alloys business in Europe.??
