Ruukki Construction, part of Sweden’s SSAB, tells Kallanish that it has completed the divestment of its Building Systems business.
The segment has been sold to Donges Group, which is fully-owned by the German-based investment company Mutares. Ruukki Construction will now focus on profitable growth in its product businesses within the Roofing and Building Envelopes businesses.
“Our strategy is to pursue profitable growth in our product businesses Roofing and Building Envelopes. We’re pleased to have found a new owner who is better positioned to develop Building Systems, which is of a project-type of business,” says president of Ruukki Construction, Sami Eronen.
The divested business had sales of around SEK 1.5 billion ($152 million) in 2019 with a slightly positive operating profit. Building Systems employs some 500 persons, who will transfer to the service of the new owner under their existing terms and conditions of employment. No value for the deal has been disclosed.
