The European Commission has given the go-ahead to the buyout of Italy’s Compagnia Siderurgica Italiana by German longs specialist Steelag.
Located near Vicenza in northern Italy, Compagnia Siderurgica Italiana is a sheet treatment service centre performing plasma, laser and oxy-fuel cutting and calendaring, CNC machining, bending, sandblasting and chamfering.
With a capacity of over 40,000 tonnes/year, the company serves mostly the construction industry. Steelag Deutschland specialises in the production and distribution of construction steel such as rebar in bars and coils, wire mesh and cold-drawn wire products supplying customers in Germany, Austria and Belgium and expanding into flat products in Italy thanks to the acquisition.
The Commission concluded that the proposed acquisition would raise no competition concerns, “given the limited overlaps and vertical links between the companies’ activities in the relevant markets in the European Economic Area,” the EU says in a note seen by Kallanish.
Natalia Capra France
