Interest in Norgros

Rautakesko is currently negotiating on the acquisition of a majority interest in the Norwegian Norgros AS, which includes the Byggmakker chain with 133 hardware and builders' merchant outlets. Byggmakker is the leader of this sector in Norway, with 18 per cent of the market. Norgros achieved net sales of NOK 3.9 bn (€ 493 mio) in 2004. An agreement on the share acquisition is expected by July.