CRU: Jindal acquires Vitkovice Steel

India’s Jindal Group has purchased all the shares of Czech steel maker Vitkovice after clearance from the Czech Republic’s anti-trust office which says the transaction will not distort competition.

“We are convinced that this will strengthen the company and the Czech steel industry,” CEO Radek Strouhal was quoted as saying by the CTK news agency. “The new industrial owner will bring the company stability and, above all, development in the form of investments in production technologies, sharing of foreign know-how and moving towards environmentally produced low-emission steel.”