commiss decis decemb declar concentr compat common market case iv krupp thyssen riva falck tadfin ast german text authent text eea relev ec commiss european commun regard treati establish european commun regard council regul eec decemb control concentr undertak articl thereof regard commiss decis octob initi proceed case consult advisori committe concentr juli propos acquisit italian steel produc acciai speciali terni spa ast german italian consortium involv fri krupp ag hoesch krupp krupp thyssen stahl ag thyssen german side afl falck falck tadfin spa tadfin fi finanziaria spa riva italian side notifi regul eec hereinaft refer merger regul notif incomplet period refer articl merger regul began run septemb dai dai receipt complet inform parti krupp compris group compani princip activ includ steelmak mechan engin process plant engin automot part compon manufactur trade servic main activ thyssen manufactur distribut steel product includ crude steel product flat long product riva hold compani riva group compani engag manufactur distribut steel product falck hold compani falck group compani engag manufactur distribut steel product gener sale electr real estat administr environment technolog tadfin hold compani hold share compani activ distribut steel product real estat ast creat januari steelmak activ ilva separ compani prepar subsequ sale main activ ast product special steel ii oper sale ast form part programm privat ilva group endors iri septemb context commiss approv state subsidi ilva decis adopt april subject condit privat complet end decis stainless steel flat product busi transfer ilva ast sold competit tender success tender submit abovement german italian consortium thyssen direct parti consortium cooper close negoti purpos acquir ast order industri manag compani krupp hand italian partner riva tadfin falck found joint ventur kai acciai srl kai share kai divid equal betweeen krupp italian partner interest italian partner kai exercis vehicl compani acciai srl creat expressli purpos riva tadfin hold interest falck interest exercis vote right result interest kai major decis board director compris member riva tadfin nomin falck decis approv major member krupp thyssen agre transfer krupp share kai krupp thyssen rostfrei gmbh ktr call rsh joint ventur krupp thyssen partner concentr flat stainless steel product provis sharehold agreement thyssen veto fundament decis product market strategi principl financ appoint manag larg scale invest joint control krupp ktr creation ktr author commiss articl ecsc treati juli ast product consist primarili stainless steel flag product cold roll hot roll cold roll electr sheet weld tube manufactur subsidiari ast total turnov ast group achiev stainless steel flat product electr sheet product cold roll stainless steel flat product electr sheet mm wide weld tube fall ec treati cover merger regul decis addit titanium product hammer forg drop forg manufactur subsidiari ast fall ec treati contrast cold roll stainless steel flat product electr sheet mm hot roll stainless steel flat product cover ecsc treati subject separ commiss decis iii concentr joint control ast notifi oper compris step acquir control ast member german italian consortium foundat italian partner consortium order hold stake kai creation kai purpos acquir share ast order industri manag ast assign krupp interest kai ktr italian partner consortium riva falck tadfin found exclus vehicl act voic kai decis make italian compani block decis fact immateri ow instrument charact basic agreement italian partner consortium krupp april italian commit set sole purpos oper question reflect intent contract partner italian partner krupp enabl italian side act kai manag compani ast voic italian partner ensur exercis decis influenc kai ast exercis decis influenc german side situat ktr exercis sole control inabl italian partner reach common posit decis conclud italian partner exercis joint control kai ast ktr hold share kai exclus purpos acquir share ast industri manag ast kai decis board director compris member ktr appoint decis approv member mean kai sharehold block decis kai instrument charact control ast ktr riva tadfin falck joint control ast ktr joint ventur krupp thyssen partner combin stainless steel flat product product electr sheet effect octob ktr jointli control krupp thyssen krupp hold kai joint control krupp thyssen assign ktr thyssen decis influenc decis kai regard ast result krupp thyssen riva tadfin falck jointli control ast full function joint ventur ast asset resourc enabl perform function autonom econom entiti continu perform activ area stainless steel steel product market suppli stainless steel flat product electr sheet product direct custom remaind sold distributor includ group trade compani extern agenc ast suppli partial basi exist contract stainless steel flat product distribut compani belong parti deliveri signific set ast deliveri deliveri parti account case cold roll stainless steel flat product case electr sheet fact ast suppli small part product parent compani disqualifi ast full function joint ventur absenc coordin competit behaviour ast activ produc stainless steel flat product italian side consortium riva falck tadfin produc product kurpp thyssen transfer entir flat stainless steel product ktr parent compani ast activ market ast relev coordin ast produc electr sheet subsidiari krupp hoesch hohenlimburg gmbh thyssen ebg likewis manufactur electr sheet parti inform commiss krupp withdraw electr sheet product worker area transfer thyssen subsidiari ebg time krupp acquir minor sharehold ebg addit italian side consortium falck produc small quantiti electr sheet market electr sheet thyssen falck remain activ parti market share falck west european market ec efta low risk coordin thyssen falck neglig context oper cooper parti substanti part product stainless steel flat product sold direct mill final consum parti remaind distribut trade compani stockhold servic centr steel stockhold perform wholesal function bui materi bulk manufactur stock resel smaller quantiti stockhold develop hous process facil machin slit steel strip order improv servic custom servic centr perfrom materi process transform activ slit flatten surfac finish cut shape account parti subsequ return process product commiss compani resel materi smaller quantiti custom quantiti stockhold relat servic activ quick deliveri short distanc palac suppli servic essenti effect oper regard distribut market stainless steel product assess region level distribut ast activ itali parent compani tadfin activ italian stockhold market stainless steel risk relev coordin subsidiari ast tubificio di terni produc small quantiti weld tube made stainless steel chrome content alloi steel chrome content parent compani manufactur weld tube made stainless steel alloi steel mhp joint ventur krupp mannesmann roehren activ produc market precis tube made carbon steel market share falck produc precis tube made carbon steel market share weld tube made stainless alloi steel hand tube made carbon steel hand belong separ market group product exhaust system passeng car ow heat resist durabl contrast tube made carbon steel furnitur industri mechan engin substanti price differ kind tube precis tube cost ecu tonn stainless steel tube ecu tonn ad tadfin group trade compani distribut small quantiti weld stainless steel tube ecu million activ belong separ distribut market stainless steel product neglig regard tube ast activ tube market parent compani activ relev coordin ast produc subsidiari titania spa titanium semi finish product manufactur deutsch titan gmbh compani vereinigt schmiedegesellschaft vsg group jointli control krupp thyssen kloeckner hold interest gt num gt gt den gt parent compani ast activ field titanium semi finish product risk coordin rule market subsidiari ast soc dell fucin srl produc hammer forg larg individu manufactur steel part weigh tonn hundr tonn vsg activ market parent compani ast market relev coordin fil spa subsidiari ast make drop forg product unlik hammer forg manufactur individu produc shape die drop forg produc subsidiari krupp gerlach werk gmbh subsidiari thyssen thyssen umformtechnik falck risk coordin neglig falck ast insignific market share krupp thyssen market share iv commun dimens oper commun dimens aggreg worldwid turnov undertak concern amount ecu million turnov krupp ecu million thyssen ecu million riva ecu million falck ecu million tadfin ecu million ast ecu million commun wide turnov krupp thyssen riva falck ast ecu million compani achiev third aggreg commun wide turnov member state relev market relev product market ast continu produc stainless steel flat product cold roll hot roll cold roll electr sheet type product account ast total product cold roll stainless steel flat product electr sheet mm wide fall ec treati cover merger regul weld tube titanium product hammer forg drop forg fall ec treati stainless steel product differ ordinari steel product chromium nickel element ad melt process order achiev metallurg properti end product chromium nickel quot intern metal exchang price fluctuat close follow nickel strong influenc stainless steel price account cost price stage product hot cold roll hot roll materi produc hot roll mill surfac qualiti compar cold roll product hot roll flat stainless steel sold end user subsequ cold roll process aim improv qualiti materi reduc thick requir dimens product cold roll stainless steel flat product cold roll stainless steel flat product wide rang industri requir resist heat rust acid high qualiti surfac finish combin smooth pleas appear individu requir depend end product put main applic cold roll stainless steel flat product internation recogn standard household equip white good field food drink industri chemic industri automot industri exhaust system capit good industri parti high degre substitut cold roll stainless steel materi carbon steel coat steel enamel steel zinc coat steel aluminium plastic glass competitor contact commiss confirm technic feasibl replac cold roll stainless steel materi competitor ow corros ressist hygien mechan physic properti advantag life cycl cost cold roll stainless steel gener replac contrari ow rel price advantag materi cold roll stainless steel replac cheap appar main factor substitut process factor plai part growth cold roll stainless steel increas import life cycl cost tighter environment regul govern industri processess stricter hygien standard applic custom invest specif process equip preclud changeov short term cold roll stainlesss steel materi cold roll stainless steel flat product regard relev product market cold roll stainless steel flat product product market high degre suppli side substitut split market materi mm materi mm order classifi ec ecsc product practic primarili artifici divis base product technolog time ecsc treati larg replac roll wide slit narrow width signific amount slit wide coil narrow carri servic centr produc mill big manufactur stainless steel flat product todai slit wide strip width mm addit servic centr slit wide coil make narrow size market cold roll stainless steel flat product divid separ market austenit steel ferrit steel kind stainless steel differ chemic composit properti austenit steel expens ferrit steel ow addit nickel type steel produc plant space week switch type conclud suppli side substitut type consid includ relev product market product electr sheet electr sheet character specif electromagnet properti conduct electr resist construct larg transform electr motor power suppli switch unit power plant gener regard separ product market electr sheet type cold roll sheet ecsc treati differenti strip mm wide strip mm wide high degre suppli side substitut kind state stainless steel flat product mill roll width mm ec product ecsc product materi mm slit wider coil electr sheet differenti orient materi orient materi demand side differ applic area type product orient materi good conduct low core loss lesser heat develop orient materi character higher resist higher heat develop orient orient materi distinguish method product kind materi pickl cold roll undergo anneal process process materi acquir requir electromagnet properti product facil differ consider suppli side substitut separ market orient orient electr sheet trade stainless steel distribut consid separ market stainless steel concern west european stainless steel product estim figur vari slightli competitor sold stockhold servic centr electr sheet sold direct custom virtual dealt stockhold servic centr eletr sheet sold direct custom virtual dealt stockhold servic centr sum relev product market singl purpos present analysi cold roll stainless steel flat product orient electr sheet orient electr sheet distribut stainless steel product regard product cover merger fall ec treati merger regul relev geograph market western europ competit problem ast present weld tube market neglig share hammer forg drop forg entiti market share titanium product share point relev geograph market product cold roll stainless steel relev geograph market cold roll stainless steel western europ ec efta countri tariff trade ec efta major produc larg market share respect countri intens trade commun member state commun efta transport cost low compar product question legisl technic barrier market entri ec member state efta countri relev geograph market extend western europ estim provid parti produc western europ compar part world biggest market consumpt million tonn america million tonn east includ china million tonn japan million tonn main product area western europ japan america western europ japan capac larger consumpt substanti proport west european japanes product export part world western europ export product west european export east includ china america account total west european product export western europ japan neglig tonn volum import western europ rest world low import account total west european consumpt japan south korea south africa transport cost face produc locat western europ repres sale price import countri eea subject import duti framework gatt lower import duti steel product negoti view linear reduct year period start investig show price level cold roll stainless steel flat product differ substanti part world price america quarter higher japan higher east includ china lower price level west european market increas signific amount result substanti increas import japan america east bear mind higher price level japan america import duti transport cost substanti import east lower price level produc account transport cost import duti demand custom discount compens lack suppli reliabl compar west european produc sale servic similarli substanti import east european countri parti argu overcapac south africa result increas import region western europ south african produc columbu contact commiss increas product capac result overcapac south africa low tonn export south africa focu western europ america east south african supplier problem east manufactur regard suppli reliabl servic western europ extrem import south africa western europ increas import rate western europ substanti circumst relev geograph market cold roll stainless steel flat product western europ electr sheet product commiss state previou decis adopt ecsc treati relev geograph market orient electr sheet world market main reason import american japanes produc control technolog patent right worldwid import export activ import commun countri account eea consumpt reason hold good todai market orient electr sheet world market orient electr sheet concern parti argu relev geograph market west european market sector internation develop world market light fact contend market wider western europ condit competit vari main market western europ north america japan transport cost face produc europ repres sale price import western europ subject duti remaind duti reduct import duti negoti framework gatt low rate interpret western europ rest world volum export western europ part world high west european consumpt import countri account west european consumpt relev geograph market orient electr sheet western europ trade stainless steel product steel stockhold perform wholesal function bui materi bulk manufactur stock resel smaller quantiti custom quantiti steel distribut stockhold servic centr take place region level relev geograph market region market ast activ distribut market stainless steel itali impact merger felt member state vi compat common market cold roll stainless steel flat product featur market overview unlik ordinari carbon steel consid matur product stainless steel includ cold roll stainless steel expans phase product life cycl ow intrins qualiti favour price perform ratio stainless steel natur choic larg number applic increas environment pressur back legisl result applic energi industri wast treatment plant car industri exhaust system expans fast food industri stimul stainless demand stainless steel product satisfi industri requir hygien mainten free surfac product steel gener increas year stainless steel product increas averag annual rate period pace growth slow passag time reflect process matur annual growth rate stainless steel time lead consum produc region chang time mid north america main region western europ japan todai growth area newli industri countri nic annual aggreg growth rate approxim trend export europ european produc invest net import area america east asia year assum line current long term forecast cold roll stainless steel consumpt growth rate western world parti west european consumpt cold roll stainless steel product increas approxim period due higher growth rate nic total western world consumpt cold roll stainless steel increas abovement rate steel market gener market cold roll stainless steel character sever instabl suppli demand relationship chang demand lead time time degre idl capac lower capac util slowdown world econom growth year result western europ slower increas consumpt stainless steel substanti slowdown left industri gener product capac need european appar consumpt cold roll stainless steel flat product suffer sever declin compar previou year steepest fall place germani spain situat drop price raw materi nickel led fall price recent year prospect month chang increas demand place sign price start rise overcapac offici commiss figur total cold roll stainless steel capac western europ amount million tonn consumpt million tonn product million tonn consumpt figur million tonn million tonn million tonn show consumpt slow substanti consumpt western europ cover deliveri west european produc substanti part product approxim tonn export part world gap capac product substanti surplu capac western europ estim cold roll stainless steel produc overcapac west european market continu ow exist overcapac construct west european produc cold roll stainless steel mill western europ addit capac tonn estim competitor contact gap west european capac consumpt amount tonn supplier custom relev geograph market ktr ast ugin outokumpu avesta sheffield acerinox alz activ relev geograph market merger ktr ast competitor integr steelwork remain undertak engag cold roll import account west european cold roll stainless steel consumpt deriv japanes produc nippon steel daiclo steel hitachi metal south korean produc posco south african produc columbu categori custom end user belong varieti econom sector point hand stockhold servic centr end user purchas larg quantiti mill direct produc smaller quantiti stockhold stockhold perform tradit wholesal function bui bulk manufactur resel smaller quantiti addit steel stockhold develop hous process facil order add improv servic custom process includ cut length slit shear polish activ tradition carri servic centr market share consumpt cold roll stainless steel flat product western europ ec efta amount million tonn ktr krupp thyssen merg stainless steel busi account ast merger combin market share parti amount deliveri largest competitor ugin account west european consumpt competitor market share import repres market total west european capac cold roll stainless steel flat product krupp thyssen account ast merger combin capac parti amount total capac western europ product concern krupp thyssen account total west european product ast account product parti merger repres total west european product world level assess domin aa sole domin merger parti hold market share total turnov undertak involv merger amount ecu billion global steel product million tonn addit thyssen hold stake mexican stainless steel produc mexinox consid propos oper lead sole domin posit result effect competit significantli imped common market market share entiti ast doubl largest competitor ugin entiti face power financi strong competitor usinor british steel acerinox substanti market share larg product capac amp activ effect competit ugin largest competitor market share belong usinor sacilor group turn lead european steel produc largest world total steel product million tonn worldwid turnov amount ecu billion earn steel ugin account total west european cold roll stainless steel product capac signific spare capac deter attempt group restrict output order increas price total size fact stainless steel product confin europ ugin hold strong posit financ invest research develop stainless steel sector import sale organ concern final internation usinor reinforc posit usinor control amp special steel largest cold roll stainless steel sheet produc unit state sharehold lead cold roll stainless steel produc thailand thainox avesta sheffield largest competitor western europ market share control british steel plc largest steel produc europ total steel product million tonn worldwid turnov british steel group amount ecu billion steel account ecu billion avesta sheffield result merger british swedish stainless steel produc plan increas product capac western europ largest competitor acerinox market share rel newcom steel busi creat equip modern plant low cost excel profit acerinox achiev worldwid turnov ecu million stainless steel recent gain sole control stainless steel produc north american stainless origin joint ventur american produc armco acerinox main individu sharehold nisshin steel nissho iwai japanes nisshin steel largest japanes stainless steel produc member acerinox board director japanes acerinox recent decid increas capac europ increas capac unit state hold sharehold mexinox mexican produc cold roll sheet thyssen similar stake acerinox export averag amount product cold roll stainless steel europ consider spare capac finnish competitor outokumpu polarit market share acerinox modern product plant devot exclus make cold roll stainless steel flat product west european produc produc raw materi ferrochromium nickel hous affect fluctuat world market price raw materi point worldwid turnov amount ecu billion outokumpu plan increas cold roll stainless steel product capac western europ alz market share invest heavili recent year competit produc alz belong arb group lead european steel produc turnov ecu billion acquisit arb kloeckner total steel product group million tonn alz benefit kloeckner modern hot roll capac acerinox outokumpu alz expand share west european market recent year expens establish european produc price cold roll stainless steel product declin substanti quarter answer receiv cold roll stainless steel produc price sold product cold roll sheet aisi din declin abovement period averag approxim west european consumpt increas tonn tonn fell back tonn consumpt increas price abovement kei product declin averag clear indic exist price competit market expect merger price competit continu work medium term west european market character overcapac capac product figur competitor entiti spare capac tonn largest competitor tonn entiti rais price competitor easili react increas product order obtain higher market share west european cold roll stainless steel manufactur export substanti part product part world competitor export tonn south east asia area price lower current west european price level entiti rais price time grow demand competitor opportun switch suppli south east asia western europ view improv earn medium term competitor entiti continu spare capac dispos mention western europ overcapac continu exist year ground believ west european competitor entiti close capac medium term past european manufactur export countri part product sold western europ fact year west european competitor increas capac approxim tonn polici increas capac close potenti competit parti argu west european manufactur face substanti competit western europ year eastern east european produc low cost manufactur taiwan south korea peopl republ china thailand increas product capac substanti consumpt region grow excess capac tonn eastern manufactur produc steel cheapli west european mill parti view threat potenti entri west european market tonn cold roll stainless steel commiss investig confirm likelihood develop line long term forecast independ expert competitor contact commiss state year overcapac east incent eastern produc export cold roll stainless steel western europ achiev earn home market case price level east lower western europ eastern produc transport cost import duti account practic grant substanti discount offset lack suppli reliabl servic custom competitor question commiss hold view east european produc cold roll stainless steel meet west european custom requir term qualiti reliabl suppli servic increas import countri note volum limit estim custom competitor time frame match west european standard year estim correct depend time invest east european plant carri case decid extent competit east european produc cold roll stainless steel effect point gener conclus propos merger increas degre concentr concentr market entiti hold sizeabl market share western europ member state highest consumpt stainless steel germani propos merger increas substanti degre concentr creat strengthen domin posit west european market cold roll stainless steel flat product result effect competit significantli imped common market substanti part market share entiti confront power competitor activ sector steel busi usinor british steel acerinox outokumpu arb consider market share substanti financi resourc enabl carri invest market order compet entiti importantli competitor substanti amount spare product capac cold roll stainless steel flat product view strong price competit recent year assum merger remain competitor posit restrict unjustifi price increas entiti event competitor power spare capac increas product offer lower price view gain market share expens entiti bb oligopolist domin entiti largest competitor ugin market share western europ market share lead competitor includ entiti commiss compani exercis joint domin case collect domin small group compos entiti ugin group subject effect competit avesta acerinox outokumpu alz financi strong possess signific excess capac product cold roll stainless steel flat product case collect domin wider group compos entiti ugin acerinox outokumpu market share european level render anti competit parallel behaviour difficult cold roll stainless steel market grow market growth rate approxim year market competitor exist spare capac entiti rais price context note offici ecsc figur entiti competitor spare capac proport remain futur addit insuffici market transpar behaviour larg number custom divers term size requir point final born mind lead firm pursu corpor strategi intern level fact presenc europ differ consider compani reliabl basi anti competit parallel behaviour product orient electr sheet propos merger reduc number european competitor market worldwid group hold domin posit world level nippon steel japan leader european level group market share confront ugin slightli higher market share product orient electr sheet effect competit entiti signific market share major competitor west european market largest competitor ee ugin market share competitor market share ee control british steel biggest european steel produc result merger swedish british electr steel produc post merger ration process complet made focus ration low cost product comprehens product rang strong product develop divis largest competitor ugin belong usinor sacilor group electr sheet sector strength ugin consist fact offer full rang electr sheet cover product stage product smaller competitor voest alpin austria activ competitor steadili increas market share recent year sale electr steel european market made direct produc end user competitor depend wholesal distribut network domin parti actual potenti competitor rel eas enter market sell product direct end user transport cost western europ amount estim parti competitor cost product constitut signific barrier competit european market purchas orient electr sheet consider bargain power competitor sale account big custom custom big intern produc motor gener transform household applianc larg part demand side made number slit compani slit steel smaller width order sell end user compani consider bargain power larg quantiti bui produc circumst propos merger creat strengthen domin posit market orient electr sheet distribut stainless steel product ast activ distribut market stainless steel subsidiari itali main impact area stainless steel distribut itali commiss investig shown suffici number compet independ stockhold servic centr italian region area effici suppli stainless steel come product facil belong competitor addit vast major italian stockhold servic centr question commiss state affect oper question parti competitor stockhold servic centr itali case easili increas number capit invest requir signific competitor independ oper enter market present high barrier entri merger lead domin posit italian region market distribut stainless steel product itali titanium product west european market titanium product ast deliveri account deliveri krupp combin market share largest competitor imi krupp ast place circumst merger lead domin posit market titanium product vii assess commiss conclus propos merger creat strengthen domin posit result effect competit significantli imped common market substanti part adopt decis articl propos joint acquisit acciai speciali terni spa fri krupp ag hoesch krupp thyssen stahl ag afl falck tadfin spa fi finanziaria spa declar compat common market function eea agreement articl decis address acciai speciali terni spa ast vial brin terni attn mr enrico rossi fax fi finanziaria spa vial certosa milano attn mr giuliano carugati fax fri krupp ag hoesch krupp altendorf str essen attn dr ringleb fax acciai srl privata maria teresa milano attn dr gianpaolo pozzi fax acciaieri ferrier lombard falck giorgio enrico falck sesto san giovanni mi attn mr mario castellaneta fax tadfin spa corso di porta nuova milano attn mr giovanni lombardo fax thyssen stahl ag kaiser wilhelm strass duisburg attn dr alexand reuter fax italia srl milanes sesto san giovanni mi attn dr luigi agarini fax brussel decemb commiss karel van miert member commiss decis septemb case iv avesta british steel ncc aga axel johnson decis decemb ugin cockeril sambr capac mean maximum annual product attain year question ordinari work condit competitor market contact estim current capac million tonn market share ecsc survei ugin annual amp expenditur percentag total sale revenu highest player contact commiss