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Rautaruukki to cut production, jobs in Norway

Fri Jul 3, 2009 8:12am EDT

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HELSINKI, July 3 (Reuters) - Finnish metals group Rautaruukki (RTRKS.HE) said on Friday it would cut production and 137 jobs at its Norwegian plant due to weak demand in shipbuilding.

Rautaruukki said in a statement it would decrease operations at its Mo i Rana plant to one shift from two and focus production on windmill towers as the wind power industry grows.

The firm said it would book some 1.2 million euros ($1.68 million) of one-time costs in the third quarter.

The plant currently employs 255 people. ($1=.7133 Euro) (Editing by Hans Peters)



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