Conglomerate The company becomes Ruukki Group Plc. Operating as a consortium of Finnish entrepreneurs from different sectors, through majority holdings.
In May 2003, A Company Finland Plc acquired by means of a share swap control of Ruukki Group Oy (now Ruukki Yhtiöt Oy), a long-standing wood products manufacturer in northern Finland owned by a group of entrepreneurs. Ruukki Group Oy’s businesses, i.e. sawmill, furniture and pallet business, formed the basis for the current wood processing operations of the Group. In connection with the arrangement, the name of the company was changed to Ruukki Group Plc.
During 2003-2006 the Group diversified into care services and house building as well as strengthened its sawmill, furniture and metal industry businesses. In December 2006 the Group signed first investment agreements with the regional administration of Kostroma in Russia.
In 2005, the company carried out a directed rights issue which generated around EUR 4.3 million in shareholders' equity; the share issue in 2006 generated around EUR 21.2 million in shareholders’ equity.
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