Completion of Ruukki Construction’s negotiations to reduce workforce in Finland

Employer-employee negotiations initiated in Finland in October to reduce the
workforce in SSAB’s Ruukki Construction division have now been completed. A
total of 61 jobs will be lost as a result of the negotiations. Employer-employee
negotiations initiated at the same time at SSAB Europe’s production site in
Raahe are still ongoing.
The employer-employee negotiations initiated in Finland in October affected most
of Ruukki Construction’s employees in Finland in production, sales and support
functions, a total of 434 persons at several sites including Alajärvi, Espoo,
Helsinki, Hämeenlinna, Kouvola, Kuopio, Oulainen, Oulu, Pietarsaari, Pori,
Seinäjoki, Tampere, Turku, Vaasa, Vimpeli and Ylivieska. When the negotiations
began, it was estimated that there was a need to reduce the workforce by a
maximum of 85 persons. As a result of the negotiations, a total of 61 persons
(22 front-line employees and 39 office employees) will lose their jobs. The plan
is to implement most of workforce reductions during the first half of 2016. Some
of the workforce reductions will be effected through natural attrition.

Ruukki Construction has launched a new cost-savings program across its business
in all countries where it operates. The negotiations now completed are part of
this program, which seeks to achieve a permanent cost impact on an annual basis
of at least SEK 200 million in processing, administration, marketing and sales
costs, with full impact from 2017 onwards. These costs savings will seek to
ensure business profitability and improve operational efficiency. Divisionwide
in different countries, there is a need to reduce the workforce by a total of
approximately 300 persons. Ruukki Construction will consider additional
structural changes to its operations during the second phase of the program if
the market situation remains weak.

Ruukki Construction is responsible for the sales and production of energy
-efficient building and construction solutions. Ruukki Construction also
includes Plannja, which was earlier part of the SSAB EMEA business area.

For more information, please contact:
Taina Kyllönen, Executive VP Communications, tel. +358 20 592 9040
Jarmo Tonteri, CEO, Ruukki Construction, tel. +358 20 593 8837
SSAB is a Nordic and US-based steel company. SSAB offers value added products
and services developed in close cooperation with its customers to create a
stronger, lighter and more sustainable world. SSAB has employees in over 50
countries. SSAB has production facilities in Sweden, Finland and the US. SSAB is
listed on the Nasdaq OMX Nordic Exchange in Stockholm and has a secondary
listing on the Nasdaq OMX in Helsinki. www.ssab.com.