EU clears Arcelor, Mitsui JV in S. Africa

The European Commission (EC) today cleared a joint venture between Luxembourg-based steelmaker Arcelor and the U.K. unit of Japanese trading company Mitsui & Co. The new company, called AMSA Steel Service Center Pty. Ltd., will be a steel processing and service company in Durban, South Africa. Arcelor will own 65 percent of AMSA Steel Center while Mitsui will own the remaining 35 percent. The center, which will commence operations in the second quarter of 2007, will process 120,000 tons of steel per annum.