Rautaruukki and Ruukki Group Settle Name Dispute
11/28/2013 - Rautaruukki Corporation (Ruukki) and Ruukki Group Plc have settled their name dispute.
Consequently Ruukki Group is to change its names. Ruukki Group is to assign all its rights to the Ruukki name and Ruukki trademark to Rautaruukki.
The agreement includes a transition period of six months within which time Ruukki Group will change the names of the listed company and all its subsidiaries. Under the agreement, Ruukki Group will assign all Ruukki trademarks in its possession and its rights to the Ruukki name to Ruukki. Thereafter, the parties will abandon legal actions initiated against each other. Rautaruukki will pay Ruukki Group compensation for the rights. This compensation is not significant.
Rautaruukki has been using the Ruukki name since the 1970s in many products and product groups. Rautaruukki's Ruukki trademark is registered or registration is pending in a total of 95 countries. In addition, the names of Rautaruukki Corporation's subsidiaries in different countries have been registered as beginning with the name Ruukki.
Ruukki specializes in steel and steel construction. It provides customers with energy-efficient steel solutions for better living, working and moving. It has around 9,000 employees and an extensive distribution and dealer network across some 30 countries including the Nordic countries, Russia and elsewhere in Europe and the emerging markets, such as India, China and South America. Net sales in 2012 totaled € 2.8 billion.
The agreement includes a transition period of six months within which time Ruukki Group will change the names of the listed company and all its subsidiaries. Under the agreement, Ruukki Group will assign all Ruukki trademarks in its possession and its rights to the Ruukki name to Ruukki. Thereafter, the parties will abandon legal actions initiated against each other. Rautaruukki will pay Ruukki Group compensation for the rights. This compensation is not significant.
Rautaruukki has been using the Ruukki name since the 1970s in many products and product groups. Rautaruukki's Ruukki trademark is registered or registration is pending in a total of 95 countries. In addition, the names of Rautaruukki Corporation's subsidiaries in different countries have been registered as beginning with the name Ruukki.
Ruukki specializes in steel and steel construction. It provides customers with energy-efficient steel solutions for better living, working and moving. It has around 9,000 employees and an extensive distribution and dealer network across some 30 countries including the Nordic countries, Russia and elsewhere in Europe and the emerging markets, such as India, China and South America. Net sales in 2012 totaled € 2.8 billion.
