EUROPEAN STEEL DAY 2019: EC should ‘rethink merger policy’ with global outlook

European steelmakers have called for the European Commission (EC) to rethink its competition and merger policy amid ever-increasing global competition, they said at the European Steel association’s (Eurofer) European Steel Day in Brussels on Wednesday June 26.

“When companies want to [merge], it’s very difficult to understand why you should stop a merger because of an EU national competition question mark, when you are acting in a global market,” Eurofer president Geert Van Poelvoorde said on June 26.
“In the long term, the EU wants [its industry] to compete with those big global companies that have much more absorbent potential. The steel industry is cyclical and to survive a downturn you need a certain size - and the global steel industry is growing in size,” Van Poelvoorde said.

Van Poelvoorde, who is also chief executive officer of ArcelorMittal...

Published

Viral Shah

June 27, 2019

16:25 GMT

London