EU approves Ashland’s acquisition of Hercules

06 October 2008 15:28  [Source: ICIS news]

PARIS (ICIS news)--The European Commission (EC) has approved the proposed acquisition of Hercules by Ashland, both US specialty chemical producers, the executive arm of the EU said on Monday.

 

The Commission cleared the purchase under the EU merger regulation, saying it had concluded “that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it”.

 

The companies' activities overlap in the EEA in the supply of specialty chemicals to the paper industry.

 

However, the Commission said the overlaps between the activities of Ashland and Hercules were “limited” and that the merged company would “continue to face several strong, effective competitors”.

 

Ashland manufactures composite polymers, adhesives, metal casting consumables, lubricants and automotive chemicals, which it supplies to a range of industries worldwide.

 

Hercules makes and supplies specialty chemicals for the pulp and paper industry, water-soluble polymers - in particular cellulose derivatives and guar - and wood rosin derivatives.

By: Philippa Jones
+44 20 8652 3214

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