Arcelor & Umicore JV received approval from anti-trust authorities
Following the approval of European anti-trust authorities as of July 4, Luxembourg based major European steel producer Arcelor and international metals and advanced materials group Umicore finally combined their commercial non-ferrous and ferro-alloys activities into a joint venture named Traxys where originally these activities were conducted by Considar and Sogem respectively. Arcelor and Umicore will each own 50% share in Traxys. Besides providing commercial and financial services to customers in certain industries, this joint venture will undertake trading, marketing and distribution and serve to a wide range of industrial customers with over twenty offices in main producing and consuming areas.