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Ruukki invests €9 mln in Hungary in 2007

Ruukki Hungary, the Hungarian unit of Finnish steel frame structure producer Ruukki Construction, invested €9 million ($13.7 million) in Hungary in 2007, chairman of the parent company Saku Sipola announced at a press conference on Tuesday.

Ruukki Hungary had revenue of Ft 10 billion (€37.94 million) in 2007. The company produced enough steel frame structures for 2,000 apartments at its plant just west of Budapest in 2007. The Ruukki Construction chairman said that the company employed 890 people in Hungary at the end of 2007. The Hungarian plant processes 45,000 tons of steel annually, 20% of which is used to make steel structures used in construction. Most of these products are exported to Romania and countries of former Yugoslavia. In 2007, Ruukki Hungary purchased Magyar Apritógépgyár, which operates under the name Ruukki Tisza at two locations east of Budapest. (MTI-Econews)