Wood processing -oriented conglomerateFocus on wood-based industrial business operations.
The emphasis of investments moved to Russia.
The company’s Board decided to focus the business operations more intensively on wood-based operations, with a future emphasis on targeting industrial operations and investments in Russia in particular and on a substantially larger scale.
Based on the strategic decision, Ruukki entered into investment agreements with Russian Kostroma region to construct a sawmill and a pulp mill; moreover, Group’s Russian subsidiary registered these investment agreements in the Kostroma investment register.
A directed share issue, intended primarily to finance the Kostroma business operations, was executed in June-July 2007. The share issue generated around net EUR 339 million shareholders’ equity.
From 1 July 2007, the company’s shares were transferred within the OMX Nordic Exchange to the Industrials sector in the Mid Cap segment from the Small Cap segment.
Matti Vikkula took up the position of CEO on 1 September 2007.
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