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Luxembourg based steel king ArcelorMittal and rival Voestalpine has reached into a settlement over long-running patent battle of a new form of steel. The tussle aggravated when both the companies wanted to have monopoly of their respective steel brand for use in cars and trucks. The brand of Voestalpine “PHS Ultraform” occupies a potentially strong position in the automobile market and is the main rival of arcelor’s “Usibor GI brand.” The decision will be a blow to Arcelor who was very eager and anxious to grow and shrug off its reputation as being mainly a producer of commodity grade material

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