Completion of Ruukki Metals' employer-employee ...

Rautaruukki Corporation Stock exchange release 26 November 2012 at 1pm EET
  
Employer-employee negotiations affecting Ruukki Metals and Ruukki's Marketing and Communications function initiated in September have now been completed. The negotiations were part of projects launched this year to improve Ruukki's competitiveness. The negotiations have resulted in a workforce reduction of about 250 persons, which was also the original estimate.

Employer-employee negotiations initiated to improve the efficiency of Ruukki Metals' operations have been completed. The negotiations affected most of Ruukki Metals' production organisation in Finland, or a total of around 3,500 persons. The Raahe Works and Hämeenlinna Works were the largest units affected by these negotiations.

Ruukki Metals' negotiations originally concerned the need for a workforce reduction of 230 persons. The negotiations have resulted in a new operating model at the Raahe and Hämeenlinna works to ensure efficient, profitable operations also in weaker market conditions or at lower capacity utilisation rates. The redundancies are to be carried out through the expiry of fixed-term contracts, pension arrangements and dismissals. The workforce will be reduced by four persons through dismissals.

Employer-employee negotiations within the Marketing and Communications function affected around 70 persons across different Ruukki countries. The negotiations resulted in a workforce reduction of 17 compared to an earlier estimate of 20 persons.

The negotiations were part of projects initiated this year to improve Ruukki's competitiveness. The negotiations seek annualised savings of around EUR 10 million, which are expected to be achieved in full during the third quarter of 2013.

For further information, please contact:
Olavi Huhtala, EVP, Ruukki Metals, tel. [phone]

Rautaruukki Corporation
Taina Kyllönen
SVP, Marketing and Communications

Ruukki provides its customers with energy-efficient steel solutions for better living, working and moving. Ruukki operates in some 30 countries and employs around 11,800 people. Net sales in 2011 totalled EUR 2.8 billion. The company's share is quoted on NASDAQ OMX Helsinki (Rautaruukki Oyj: RTRKS).

DISTRIBUTION:
NASDAQ OMX Helsinki
Main media
www.ruukki.com

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Source: Rautaruukki Oyj via Thomson Reuters ONE

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