Marcegaglia buying UK stainless melt shop to bypass EU safeguards, anti-dumping, CBAM

Marcegaglia is purchasing Outokumpu’s long division, including a meltshop in the United Kingdom, to secure material that would otherwise be subject to European import duties via safeguarding measures, anti-dumping duties, and the carbon boarder adjustment mechanism (CBAM), a company source told Fastmarkets on Friday December 16.

On Wednesday, the European competition authorities approved the acquisition, which was originally announced on July 13. Outokumpu said it expected to complete the transaction ‘in the beginning of next year’...

Published

Ross Yeo

December 16, 2022

17:35 GMT

London