EC approves NLMK and Duferco JV

The European Commission approved on Tuesday, November 21, the creation of a joint venture (JV) by the Russian steel maker Novolipetsk Steel (NLMK) and Guernsey-based steel producer-trader Duferco. The new JV, Luxemburg-based Steel Invest & Finance SA, plans to acquire assets owned by Swiss-based Duferco, including Duferco Farrell Corp. in the US and Belgian companies Carsid SA, Duferco Clabecq SA and Duferco La Louviere SA as well as Duferco Coating SAS, Sorral SA and Duferco Transformation Europe in France and Acciaierie Grigoli SpA in Italy.