Friday, June 19, 2009

Turkey's Erdemir ordered to end Arcelor partnership | Industries | Industrials, Materials & Utilities | Reuters

"Turkey's Erdemir ordered to end Arcelor partnership

* Erdemir ordered to end partnership with ArcelorMittal

* Competition Board also fines Erdemir 20.12 million lira

(Updates with details, background)

ISTANBUL, June 19 (Reuters) - Erdemir (EREGL.IS), Turkey's largest steelmaker, said on Friday it was fined 20.12 million lira ($13 million) for violating competition rules and was ordered to end its partnership with ArcelorMittal (ISPA.AS)."

More:UPDATE 1-Turkey's Erdemir ordered to end Arcelor partnership | Industries | Industrials, Materials & Utilities | Reuters