EU opens in-depth study of Norsk Hydro takeover of Polish recycler Alumetal

Alumetal SA

06/10/2022 20:42

BRUSSELS, Oct 6 (Reuters) - The European Commission said
on Thursday it had opened an in-depth investigation into the
proposed acquisition of Polish recycler Alumetal  AMT.WA  by
Norwegian metals maker Norsk Hydro  NHY.OL .
    The Commission said the 1.07 billion zloty ($214.6 million)
deal announced in April could reduce competition in the
production and supply of aluminium foundry alloys and master
alloys in Europe.
    "Access to competitively priced green aluminium products is
essential to achieve our objectives of fighting climate change,"
EU antitrust chief Margrethe Vestager said in a statement.
    "Our investigation aims to ensure that the acquisition of
Alumetal does not have a negative impact on the competitive
landscape for certain aluminium markets and in particular green
aluminium products for European automotive customers."
    The Commission said it has until Feb. 23 to take a decision.
($1 = 4.9861 zlotys)
 (Reporting by Bart Meijer; editing by Philip Blenkinsop)
 ((Bart.Meijer@thomsonreuters.com; +31 20 504 5006; Reuters
Messaging: bart.meijer@thomsonreuters.com))