Europe – The European Commission has approved under the EU Merger Regulation the creation of Noris Metallrecycling GmbH, a joint venture between German companies Scholz Recycling GmbH and Thyssen Alfa Rohstoffhandel MÃ¼nchen GmbH. Noris Metallrecycling of Germany will be active in the collection, processing and trading of non-ferrous and iron-nickel alloy scrap.
Scholz Recycling is engaged in the ferrous and non-ferrous scrap sectors while Thyssen Alfa Rohstoffhandel has activities in recycling and trading of secondary raw materials. In a statement, the European Commission says it concluded that ‘the proposed acquisition would not raise competition concerns because of the negligible activity of the joint venture in the EEA (European Economic Area) and the moderate combined market shares on the relevant markets’.
The transaction was examined under the simplified merger review procedure, it adds.