[SMM Stainless Steel Flash] Nova Trading SA Completes Acquisition of Nova Metale

The European Commission has opened a consultation — closing August 6 — on the purchase and repurchase of CBAM certificates through a new central platform. The draft proposes a fee of EUR 0.05 per CBAM certificate purchased, approximately 16 times the transaction fee charged by the EEX for EU emissions allowances, with no cost breakdown or justification provided. Based on approximately 440 million tonnes of CO2 embedded in CBAM-covered imports, the fee would generate around EUR 22 million annually — effectively charging companies for the act of paying a legally mandated tax. The certificate buyback process is equally restrictive: only one application per year is permitted, corrections or withdrawals are not allowed once submitted, and the administration retains up to 42 days for processing. Critics note that the administration reserves correction rights for itself while denying them to declarants, and that SMEs will effectively pay twice — once for the carbon tax and again for the bureaucracy that collects it.

Spanish manufacturer Fagor Arrasate has acquired the production unit of Barcelona-based Inoxilos, S.L. — owner of the Herpasa stainless steel tank brand — out of post-bankruptcy liquidation, integrating Herpasa's specialized manufacturing capabilities with its engineering infrastructure and global distribution footprint. The full technical and operational workforce will be retained and reinforced to maintain service continuity and preserve proprietary expertise. Mikel Lopez, director of Fagor Arrasate's steel business unit, will lead Herpasa, with immediate priorities focused on fulfilling active customer projects and restoring market confidence before leveraging corporate resources for broader market growth.