The European Commission has approved the acquisition of the German scrap processor and trader ELG Haniel by the Luxembourg stainless steel producer Aperam.
Aperam has confirmed the deal will be completed before the end of the year with ELG continuing to operate as a fully separate and independent company.
Six months after the take-over was announced, the commission has concluded there are no competition concerns.
In a statement dated 26 November, it says the reasons are that, following the transaction ‘customers will have the possibility to source stainless steel scrap from several alternative suppliers and stainless steel scrap suppliers will have the possibility to diversify their sales of stainless steel scrap’.
ELG Haniel is active worldwide in trading, processing and recycling raw materials for the stainless steel industry, as well as high performance materials such as superalloys and titanium. It has around 1 300 employees based at 52 locations in 18 countries.
Aperam produces stainless steel flat products, electrical and specialty alloys steel, including nickel alloys. In 2020, Aperam had sales of EUR 3 624 million and steel shipments of 1.68 million tonnes.
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