Brazil’s Cade approves ArcelorMittal Brazil and Piacentini JV

Monday, 03 June 2019 23:52:44 (GMT+3)   |   Sao Paulo
       

Brazilian anti-trust authority Cade has approved, with no restrictions, a joint venture between ArcelorMittal Brazil and Piacentini, SteelOrbis has learned.

The government decision published on Monday does not provide details on how the new company would operate. ArcelorMittal Brazil said in a document filing the JV would provide activities to install, remove and rent sheet piling products, as well as steel sections for building foundations for the civil construction and the embarkation sectors, among others.

ArcelorMittal said Piacentini works in the local civil construction sector, and the JV would establish synergies for both companies.

ArcelorMittal Brazil said the new company would not harm the local industry; the JV would just provide services for installing and renting sheet pilling-related services, and not sell sheet pilling products, the document said.


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