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Finnish Rautaruukki acquired 80.7% share in Hungarian Aprítógépgyár

Rautaruukki Corporation acquired an 80.7% share in the Hungarian company Aprítógépgyár Zrt (AGJ) from the Hungarian sellers. The transaction was closed today.

„Acquisition of AGJ supports implementation of our growth strategy in the lifting, handling and transportation equipment customer segment. The acquisition will also benefit us in the form of new customers and business potential, as well as add to our manufacturing network in Central Eastern Europe,” says Markku Koljonen, President, Ruukki Engineering.

Aprítógépgyár Zrt core business is the manufacture of components, such as booms, for use in earth-moving machinery and materials handling equipment; and production of heavy machinery. Rautaruukki Oyj supplies metal-based components, systems and integrated systems to the construction and mechanical engineering industries. The company has a wide selection of metal products and services. Rautaruukki has operations in 23 countries and employs 13,000 people. Net sales in 2006 totaled €3.7 billion ($5 billion). (