26 July 2011 16:50 [Source: ICIS news]
LONDON (ICIS)--The European Commission has cleared INEOS ChlorVinyls’ proposed acquisition of Belgium-based Tessenderlo’s suspension polyvinyl chloride (S-PVC) business, it said on Tuesday.
The Commission said that the proposed transaction would not significantly modify the structure of the affected markets.
“Customers would still have a number of credible and sizeable supply alternatives to the merged entity. These suppliers exercise a competitive constraint on the merged entity,” it added.
S-PVC is a resin used in pipes, window profiles and other industrial applications, the Commission said.
On 14 June, it was announced that INEOS ChlorVinyls, part of UK-based Kerling, a leading manufacturer of PVC and caustic soda in ?xml:namespace>
After the transaction, Tessenderlo will exit from the commodities market and focus on its sulphate, akiolis and gelatine businesses, and its remaining plastics pipe systems and water treatment segment.
($1 = €0.70)
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