THE SALE OF AGJ TO LISTED FINNISH GROUP, RUUKKI

THE SALE OF AGJ TO LISTED FINNISH GROUP, RUUKKI

April 2007, Jászberény

The Engineering division of the Finnish Rautaruukki Oyj (Ruukki), which supplies metal-based components and systems to the construction and mechanical engineering industries, acquired majority stake in Aprítógépgyár Zrt, the leading Hungarian heavy engineering machine component manufacturer. Ruukki Engineering is specialised in the production of lifting, handling and transportation equipment. By acquiring AGJ with a turnover of EUR 45M and 740 employees, Ruukki further broadens its clientele in the Western European earth moving and material handling machine market. At the same time, Aprítógépgyár gets a world class professional partner, which is committed to the long term development of the factory. On the day of the announcement of the deal, Ruukki’s market capitalization increased by 2.5% (roughly EUR 135 million).

IMAP MB Partners advised the sellers.

THE SALE OF AGJ TO LISTED FINNISH GROUP, RUUKKI