FCCA approves the acquisition of Ovako Metals by SSAB Group company Tibnor

The Finnish Competition and Consumer Authority (FCCA) approved on 17 April 2026 the acquisition by which Tibnor AB will acquire Ovako Metals Oy Ab. According to the FCCA’s assessment, the acquisition does not have negative competition effects in Finland.

In January 2026, Tibnor, part of the SSAB Group, notified the FCCA that it intends to acquire Ovako Metals, a subsidiary of the Ovako Group. Ovako Group is owned by Nippon Steel Corporation. Both parties operate wholesale distribution of flat stainless steels and distribute standard-sized stainless -steel sheets and plates in Finland. In addition, Tibnor offers stripping and cutting stainless steel coils to lengths. The parties also distribute other types of steels and metals in Finland.

In its in-depth investigation, the FCCA examined how the transaction would affect the parties’ market positions in the distribution of flat stainless steels and their ability to raise prices of steel sheets after the transaction. The FCCA assessed the effects of the transaction by, among other things, collecting information on market structure from the parties and competitors, conducting a survey of the parties’ customers, and analysing the profitability of the parties’ businesses.

Based on the FCCA’s investigation, sufficient competition will remain in the market after the transaction. Tibnor will become the market leader, but according to the FCCA’s findings Tibnor will still face significant competitive pressure, particularly from its largest competitors, BE Group and Alumeco. Furthermore, the parties’ margin levels do not indicate that the transaction would lead to significant upward pressure on prices.

The decision issued by the FCCA contains business secrets of the parties involved. The decision will be published after the business secrets have been redacted.