THE COMMISSION AUTHORISES MONKS FERRY (SHIP BREAKING) LTD. TO ACQUIRE THE SCRAP METAL BUSINESS OF GEORGE COHEN SONS & COMPANY LTD
European Commission - IP/87/332 29/07/1987
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Under the competition rules of the ECSC Treaty the Commission has authorized Monks Ferry (Ship Breaking) Ltd., St. Helens (MF) to acquire the scrap metal business, both ferrous and non-ferrous, of George Cohen & Company, London (GCS), which is currently a subsidiary of the 600 Group. Both MF and GCS are engaged in the processing and distribution of iron and steel scrap, both for the UK domestic market and for export. MF and GCS combined will be one of the largest UK scrap merchants, but there are larger scrap merchants elsewhere in the Community. Scrap prices tend to be set by the supply/demand situation on the international scrap market and MF/GCS will not be able to pursue their own independent pricing policy. Consideration of the proposed transaction has shown that it meets the tests for authorization in Article 66(2) ECSC Treaty and the Commission therefore granted its authorization.