Ruukki's history
1960s. Long-standing plans for the establishment of an iron and steel works owned by the Finnish State reached conclusion with the founding of Rautaruukki Ltd in 1960. Steel was no longer in short supply on the world market, but there was nevertheless a need to build up steel production in Finland. Another key aim was to generate jobs in the increasingly industrial post-war Finland. Iron production started in the Raahe Steel Works in 1964.
1970s. This was a period of stabilisation and expansion. The Raahe Steel Works launched a hot-strip mill (1971), the production of cold-rolled and galvanised sheet was initiated in Hämeenlinna (1972), and soon thereafter tube production commenced also in Hämeenlinna (1973).
1980s. Rautaruukki’s internationalisation begins. A sales company, Rautaruukki UK Ltd, was established in the UK in 1981, followed by similar companies in Germany in 1983, and in Sweden and in the U.S. in 1984. Rautaruukki’s last functioning mine in Rautavaara was closed in 1988. Rautaruukki is listed on the Helsinki Stock Exchange in 1989.
1990s. Rautaruukki continues its strong expansion abroad, highlighted by the establishment of sales companies in Eastern Europe. Production, too, is increasingly organised in the target countries. The manufacture of profiled sheets began in Russia in 1995, and in the Czech Republic in 1997. Key events in Finland during this period were the acquisition of a Finnish wholesaler, Keskometalli Oy, in 1996, and the merger of Valtameri Oy with Rautaruukki in 1999. The State reduced its holding in the company to 40.1%.
2000s. Rautaruukki completes a comprehensive investment programme in 2000, and celebrates its 40th anniversary with the launch of a new galvanising plant in Hämeenlinna. In 2004, all Rautaruukki units adopt the marketing name Ruukki.
More Ruukki history: ruukki.com