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Aperam CEO Forecasts Pause in Stainless Steel Consolidation

28 Feb 2012

Aperam (APAM), the stainless-steel producer spun off by ArcelorMittal, doesn’t see any further consolidation in the stainless-steel industry before the planned merger of Outokumpu Oyj (OUT1V) and a unit of ThyssenKrupp AG (TKA) is final.

“The scene is changing, everybody wants to see what will happen in the coming months,” Chief Executive Officer Philippe Darmayan said at a press meeting in Amsterdam.

Outokumpu’s planned 2.7 billion-euro ($3.6 billion) takeover of ThyssenKrupp’s Inoxum stainless steel unit is good news for the industry, as it will reduce excess capacity that has raised costs and suppressed prices, Darmayan said.

For the full article please visit http://www.bloomberg.com/news/2012-02-27/aperam-chief-forecasts-pause-in-stainless-steel-consolidation.html

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