The Finnish Competition and Consumer Authority (FCCA) approved the acquisition of Ovako Metals Oy Ab by Tibnor AB on April 17, 2026. The FCCA determined that the acquisition would not negatively impact competition in the Finnish market.

Tibnor, a subsidiary of the SSAB Group, notified the FCCA in January 2026 of its intention to acquire Ovako Metals, which is owned by the Ovako Group and ultimately by Nippon Steel Corporation. Both companies are involved in the wholesale distribution of flat stainless steels and related products in Finland.

During its investigation, the FCCA analyzed the potential effects of the acquisition on market competition, particularly regarding the distribution of flat stainless steels and the ability to raise prices. The authority collected data from market participants, conducted customer surveys, and assessed the profitability of both companies.

The FCCA concluded that sufficient competition would remain post-acquisition, with Tibnor becoming the market leader but still facing significant competition from major rivals like BE Group and Alumeco. The investigation found no evidence that the acquisition would lead to increased prices for steel sheets.

The FCCA's decision includes confidential business information, which will be published after necessary redactions.