Brussels, 04/05/2005 (Agence Europe) - On Wednesday the European Commission cleared under the EU Merger Regulation the proposed joint venture for the production of steel products between the Finnish companies Rautaruukki and Wärtsilä, and SKF of Sweden. The Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area. The Rautaruukki group is active in the production of steel and metal products for such applications as construction, mechanical engineering and the metal fabrication industries. Wärtsilä is an industrial group active in the production of power systems for ships and offshore installations, power plants and related services and steel products. SKF is an industrial group based in Sweden active in the supply of goods, customer solutions and services in the bearing and seals business, as well as a supplier of lubrication systems. The joint venture will be active in the production of carbon and low alloyed semi-finished and finished long steel products.