EC approves US acquisition of Standard Steel Holdings Inc

Pursuant to the EU Merger Regulation, the European Commission approved the acquisition of joint control of Standard Steel Holdings Inc in the United States by Sumitomo Corporation from Japan and Nippon Steel Corporation also from Japan, which currently exclusively control Standard Steel. Standard Steel manufactures forged steel wheels and axles for freight cars, locomotives and passenger cars and operates primarily in North America.

The Commission concluded that the proposed acquisition would not pose a competitive problem as Standard Steel operates primarily in North America and is very limited in its activities and turnover in the European Economic Area. The deal was reviewed under a simplified merger review procedure.