The steel industry has been very fragmented (in Europe)…and the automobile and packing industries have been exploiting that.

It’s positive for the industry as a whole that we will have consolidation and more discipline on production. On a global basis this is going to be a very strong price setter.

That will put pressure on other producers for some kind of (merger) action.

The industry has suffered from fragmentation for a long time. The new company will have pricing power over customers and raw material suppliers.