Rautaruukki Corporation (Ruukki) and Ruukki Group Plc have today 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.