By EuAsiaNews,
Brussels : ArcelorMittal is well aware by now of the long arm of the European Union (EU), especially when it comes to vetting mergers and acquisitions, in order to make sure they do not restrict competition within the 27-nation EU market.
The European Commission, the EU’s executive arm, Thursday cleared the joint control by ArcelorMittal and the Spanish firm Gonvarri of Gonvarri Produtos Siderúrgicos SA (SSC Brazil) of Brazil.
ArcelorMittal manufactures and sells, among other products, a wide range of carbon steels and stainless steels.
Its Spanish partner, Gonvarri, is active in steel processing and the design, development and manufacture of metal parts for motor vehicles.
The Brazilian company which ArcelorMittal and Gonvarri now jointly control, processes and distributes steel in Brazil.