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Competition Tribunal Approves ArcelorMittal SA Acquisition of Highveld Structural Mill

Steel News - Published on Thu, 13 Feb 2020

Image Source: solidariteit.co.za
South Africa’s Competition Tribunal has unconditionally approved ArcelorMittal South Africa’s acquisition of manufacturing and production of structural steel and rail business of Highveld Structural Mill (Pty) Ltd, a subsidiary of Evraz Highveld Steel & Vanadium. The Commission’s investigation found that there would be no anti-competitive effects arising from the merger. It recommended that the merger should be approved and that it would potentially benefit the public interest.

HSM is the only company capable of producing heavy sections of long steel in South Africa. It operates from its eMalahleni plant in Mpumalanga. HSM went into business rescue in April 2015 and ceased production due to weakened global markets and reduced domestic steel demand, among other factors. In 2017, HSM restarted limited production of the heavy sections.

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Posted By : Rabi Wangkhem on Thu, 13 Feb 2020
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