ArcelorMittal wins EU approval to form joint venture
ArcelorMittal, the world's largest steelmaker, won approval from the European Union (EU) to form a flat carbon steel joint venture with Swedish company BE Sverige.
ArcelorMittal was a leading global steel company based in Luxembourg. BE Sverige, which belongs to BE Group, a leading trading company in the steel sector in Northern Europe, is a steel distribution company on the Scandinavian market and is active in the steel service center sector in Sweden.
Steel service centers specialize in the finishing and processing of steel for the purpose of fabricating, plating or molding steel parts.
The 50-50 joint venture would combine the steel service center activities of the parties in Sweden.
ArcelorMittal said last month it will create the third largest player in the market, with sales of more than €80 million (about $126.4 million) per year. (Xinhua)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.