Aperam CEO Forecasts Pause in Stainless Steel Consolidation28 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.
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