The announced merger between Usinor, Arbed and Aceralia would produce a formidable group within the global steel scene. However, the final deal is likely to look quite different from simple unification of the three companies' manufacturing and distribution units. A slightly smaller enterprise may emanate after disposals in Europe. Nevertheless, it would be the largest steelmaker in the world - manufacturing 60/65 percent more than its nearest rivals POSCO and Nippon Steel. However, the grouping will have to overcome a number of obstacles before gaining approval from the anti-trust authorities.The proposed new company would have a total steel output of 46 million tonnes, based on last year's figures. Approximately 41.5 million tonnes would be manufactured in the European Union. This equates to just below 25 percent of the total EU supply which, if taken in isolation, would not present any objections for the competition authorities.
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