Reportedly, the Finnish Outokumpu announced that the European Commission has approved the proposed combination between Outokumpu and Inoxum deal.

Outokumpu planned to divest its Swedish melting and coil operations in Avesta, Nyby and Kloster as well as part of its European sales network.

Also, it includes additional cold rolling capacity to be added in Avesta for this particular case.

In the meantime, ThyssenKrupp will require an industrial remedy which bases on the fact that Outokumpu divests a portion of the combined operations of Inoxum and Outokumpu.

There are no any further details or decisions on the remedy between these two companies so far.

Outokumpu will continue to follow the final results by the end of 2012.