EU approves Sumitomo Corp's buy into German steel tube maker

The European Commission has approved the acquisition by Japanese trading company Sumitomo Corp of a 45% stake in Germany's EEW Offshore Wind EU Holding, a maker of large steel tubes used in offshore wind farms. The Japanese trader has been expanding its wind farm business for over two decades, but whether this latest development leads to business for Japanese steelmakers remains uncertain.

The EC ruling relates to a corporate reorganization undertaken by Erndtebrück-headquartered EEW Holding Group last year that saw three new entities created, one of which was EEW Offshore Wind Holding which produces 'monopiles', large-diameter steel pipes up to 1,200 metres in length and weighing up to 2,500 tonnes, used