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Image header Agence Europe
Europe Daily Bulletin No. 7840
Contents Publication in full By article 17 / 33
GENERAL NEWS / (eu) eu/competition

Green light for acquisition of North Goonyella Property Ltd by RAG (coal)

Brussels, 13/11/2000 (Agence Europe) - The European Commission authorised the German company RAG Aktiengsellschaft to acquire the sole control of North Goonyella Properties Ltd (NGP), an Australian company that distributes coke produced by the North Goonyella mine and presently belongs to Sumitomo Corp. Present in the extraction and marketing sections of the coal and the processing of coke coal into blast furnace coke sectors, RAG also owns stakes in several international mining companies as well as in the following sectors: electricity, chemical products and plastics, processing of waste and environmental services, mining techniques and real estate. On its side, North Goonyella Properties Ltd markets all the production of the North Goonyella mine, which extracts around 2 million tonnes per year of coke coal. The Commission concluded that this operation would have no effect on the coke coal markets at both a European and national level and thus authorised the operation on the basis of the Treaty creating the Coal and Steel Community (ECSC).

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