Steel Mills
ArcelorMittal Green-Lighted for Ilva Acquisition
Written by Sandy Williams
May 7, 2018
Italian steel mill Ilva will finally have a new owner. The European Commission has granted approval for the acquisition by global steel producer ArcelorMittal.
“EC merger clearance follows the conclusion of the Commission’s Phase II investigation into the proposed acquisition of Ilva, and has been granted on the basis that the Company has committed to dispose of assets in Italy, Romania, Macedonia, Czech Republic, Luxembourg and Belgium, as previously announced on 13 April 2018,” said the company in a statement on May 5.
“Approval by the EC is a significant milestone in the transaction to acquire Ilva and represents a major step towards closing the deal, which is now expected to occur as soon as possible.”
The Commission’s investigation into the acquisition focused on competition concerns.
“Today’s decision makes sure that ArcelorMittal’s acquisition of Ilva, creating by far the largest steelmaker in Europe, does not result in higher steel prices, at the expense of European industries, the millions of people they employ and consumers,” said European Competition Commissioner Margrethe Vestager.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Nucor maintains plate prices, opens October order book
Nucor aims to keep plate prices flat for a seventh straight month with the opening of its October order book.
ArcelorMittal Mexico to import from sister mills as it works to resume DRI production
ArcelorMittal has partially restarted operations at its direct reduction plant in Lazaro Cardenas, Michoacan. An explosion on Aug. 18 rocked the massive steelworks on Mexico’s Pacific coast, impacting production of direct-reduced iron (DRI).
Fall maintenance outages are coming in hot
Labor Day has passed, the sun is starting to set a little earlier each day, and cooler weather has begun to find its way down to many of us across North America. And you know what that means for the steel industry… Fall maintenance outages!
AISI: Domestic steel production ticks up
US raw steel production ticked up in the week ending on Sept. 6 after a decrease the week before, according to the most recent data from the American Iron and Steel Institute (AISI).
Domestic mill shipments slip in July: AISI
US steel shipments decreased month over month in July, but were up from last year, according to the latest figures from the American Iron and Steel Institute (AISI).