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Merger of GMR endurvinnslan ehf. and Hringrás hf.

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  • Case number: 12/2015
  • Date: 19/5/2015
  • Company:
    • Hringrás hf
    • GMR Endurvinnslan ehf.
  • Sectors:
    • Environmental
  • Policy Area:
    • Mergers
  • Summary

    The Competition Authority has reviewed the acquisition by GMR endurvinnslan ehf. of certain operational properties of Hringrás hf. The assets purchased are those needed for day to day operation of Hringrás. GMR endurvinnslan is an undertaking that specialises in recycling of scrap metal. GMR melts the metal in its furnace and produces metal bars and such. GMR specialises in producing steel that will be used as a conductor for aluminium smelting. Hringrás is a waste management undertaking that has specialised in collection and sorting of different wastes, e.g. scrap metal, cars, electronics, tyres, etc. According to the notification the purpose of the transaction is to build a better foundation for the business of GMR endurvinnslan, i.a. by securing recycling materials for its production.