Next year, Finnish group Rautaruukki will open a production facility that will manufacture steel profiles and sandwich-type boards for construction in Joita, Giurgiu county. The company has been present on the domestic market for six years, but up until now has only had a sales unit. The investment in the Giurgiu plant will reach 35 million euros, and construction work will start next month. Production of steel profiles will start next autumn, and board production will start as of spring 2008. The project is part of a 50 million-euro investment programme, targeting Romania and Ukraine, announced by the group in September this year.
Rautaruukki entered the Romanian market in 2000, as an importer of metal-coated sheets. The company posted a 6.8 million-euro turnover last year. According to company officials, the local branch of the group, Ruukki Romania, estimates turnover will double in 2006, reaching some 15 million euros. Moreover, the company aims to reach a 30% market share by the end of the year. Ruukki Romania currently has 37 employees.