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BE Group Receives Approval for Joint Venture Thin Plate Production

Apr 19 2008

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BE Group has been cleared by the European Commission to acquire 50% of ArcelorMittal SSC AB.

The approval took BE Group and ArcelorMittal another step towards forming a joint venture in processing and sales of thin plate in the Swedish market.

BE Group currently processes thin plate in its Borlänge plant and ArcelorMittal has similar operations in Karlstad. The merger of these operations will create the third-largest supplier in the Swedish market with a 20% market share and sales of more than SEK 800 million.

BE Group believes the merged company will be able to commence operations around the first of June 2008.

Posted April 18th,2008

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