The European Commission said it has cleared the proposed creation of a joint venture between Scholz AG of Germany and Austria's Voestalpine AG for the collection and processing of scrap metal.
The Commission concluded that the notified operation would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.
Under the proposed agreement, the two companies' scrap metal trading activities will be merged in Austria and the Czech Republic.
Scholz will hold 60 pct of shares in the joint venture, while Voestalpine will take a 33.4 pct stake.
The remaining shares will be held by Voestalpine Rohstoffhandel GmbH's two previous shareholders -- steel manufacturers Bohler Edelstahl GmbH and Stahl und Walzwerk Marienhutte Gesellschaft mbH.
The commission's investigation confirmed that the proposed transaction would not raise competition concerns regarding the EEA-wide trade in scrap metal. AFX
Latest from Recycling Today
- Greenwave raises revenue but loses money in Q2 2025
- Recycled steel prices hold steady
- EY says India’s need for scrap imports will continue
- Coming full circle
- Amcor, DCM introduce fertilizer packaging with 35 percent recycled content
- Comstock Metals gets closer to commissioning commercial-scale solar panel recycling facility
- Washington selects Circular Action Alliance as PRO
- Smurfit Westrock expands in Latin America
