Clearance for JV in steel wire sector
Wednesday 25 July 2012
On 24 July, the European Commission cleared, under the simplified merger review procedure, the creation of a joint venture by Belgian company NV Bekaert SA and Malaysian company Southern Steel Berhad. The new Singaporean joint venture, Bekaert Southern Wire Pte Ltd, will be active in manufacturing and selling steel wire in the Association of Southeast Asian Nations (ASEAN) region (Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei, Burma/Myanmar, Cambodia, Laos and Vietnam). Bekaert is active in producing and marketing a wide range of products in the areas of drawn steel wire, advanced metal transformation, advanced materials and coatings. Southern Steel is active in manufacturing, selling and trading in steel products. It is a subsidiary of the Hong Leong group, a large conglomerate involved in property development, the acquisition and management of hotels, the financing and manufacturing of industrial materials and construction materials.