Indian Novelis' acquisition of US' aluminum manufacturer Aleris aroused the market's attention and question. The European Commission claimed that they already proceeded the investigation and made sure this case will not have any negative effect on the aluminum market and damage European customers' benefit. The final decision will be confirmed before August 8th.
According to the source, the rolling products from Novelis and Aleris are marketing to global and also have a lot of production line in the European Economic Area (EEA) mainly in Belgium, Germany, Italy and the UK.
It was estimated that after the merging, Novelis will become the main supplier of aluminum rolling products in the world. Therefore, the European Commission worried about the aluminum rolling price will go up because the manufacturers will have fewer sources than before.
Besides, the European Commission will concern about this merge case will cause any other negative effect to other industry that needed aluminum rolling products.
Indian Novelis' acquisition of US' Aleris arouse EU's attention
1 Apr 2019 16:14 reported by Alex Lo
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