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BE Group AB Granted Regulatory Approval for Thin Plate JV with ArcelorMittal

04/18/2008 - The European Commission clears BE Group’s acquisition of 50% of ArcelorMittal SSC AB, taking the two companies one step closer to formation of their proposed joint venture for processing and sales of thin plate in Sweden.

The European Commission has cleared BE Group’s acquisition of 50% of ArcelorMittal SSC AB. The Commission’s approval takes BE Group and ArcelorMittal another step toward their intended formation of a joint venture for processing and sales of thin plate in the Swedish market.
 
BE Group currently processes thin plate in its Borlänge (Sweden) plant, and ArcelorMittal has similar operations in Karlstad, Sweden. Merging 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 said it believes the merged company will be able to commence operations around the first of June 2008.
 
BE Group AB is one of the leading trading and service companies in steel and other metals in Europe. The company has about 10,000 customers, primarily within the construction and engineering industries. BE Group provides service in the steel, stainless steel and aluminum sectors. The company's sales in 2007 were SEK 7.7 billion. BE Group has approximately 1 000 employees in ten countries in northern Europe, where Sweden and Finland are its largest markets. The head office is in Malmö, Sweden.