Rautaruukki last week announced that it has closed sale of its reinforcing steel units in Germany and the Netherlands and its divestment of the reinforcing steel business of Ruukki Betonstahl GmbH of Germany and Ruukki Welbond BV of the Netherlands to the Al Tuwairqi Group of Saudi Arabia has taken effect.

The transaction has received regulatory approval from the German competition authorities. The transaction completes Rautaruukki's withdrawal, started last year, from the reinforcing steel business.