Comment on Nordic steel firms SSAB and Rautaruukki to merge

Nordic steel firms SSAB and Rautaruukki to merge

STOCKHOLM (AP) — The Swedish steel company SSAB AB made an offer Wednesday to buy Finnish company Rautaruukki Oyj for 10.2 billion Swedish kronor ($1.6 billion) to create a combined Nordic producer of high-strength steel. The acquisition comes as the global steel industry struggles with decreased profitability amid overcapacity, falling steel prices and lower demand.

 

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