AB SKF, Rautaruukki Corporation and Wärtsilä Corporation have completed the merger of the long steel businesses into a jointly owned new company. The new company is named Oy Ovako Ab and starts its operations as of May 10th.

Risto Virrankoski was elected as the chairman of the board of Ovako. Tore Bertilsson, Sven Bertlin, Lars Hellberg, Mikko Hietanen, Heikki Rusila and Kaj Thorén were elected as other members of the board. Jarmo Tonteri was appointed as the CEO of Ovako.

The shareholders exchanged their shares in the contributed companies into Ovako shares. Ovako will be accounted for as an associated company in its shareholders consolidated accounts.


Other News:
SKF, Rautaruukki and Wärtsilä have completed merger of long steel businesses
Two news about Dover company
Together we move the world Hillhead 2005(pic)
New North American Subsidiary for Atlanta GmbH
Plastic housed bearings beat bacteria
INA provides special coatings for linear guidance systems to protect against corrosion and wear(pic)
Dana Corp. Consolidates Off-Highway Axle and Transmission Production
PACAMOR KUBAR BEARINGS INTRODUCES BEARING SOLUTIONS FOR DENTAL AND MEDICAL HANDPIECES (pic)