STOCKHOLM, March 22 (Reuters) - Sweden's Boliden expects a hit of around 500 million crowns ($47.6 million) to its first-quarter operating profit from an ongoing industrial strike in Finland, the company said.

Of the 500 million crowns, 200 million is due to reduced production and 300 million to delayed deliveries to customers, Boliden said in a statement.

Finland's industrial, logistics and electrical workers said on Wednesday they would extend their ongoing two-week strikes by one week until March 31 in protest against government labour reforms and welfare cuts.

($1 = 10.5079 Swedish crowns) (Reporting by Anna Ringstrom Editing by Louise Rasmussen and Mark Potter)