EU clears acquisition Columbian Chemicals by Aditya Birla Group

EU clears acquisition of Columbian Chemicals by Aditya Birla Group

3:00 PM, 16th June 2011
EU clears acquisition of Columbian Chemicals by Aditya Birla Group

 

BRUSSELS, BELGIUM: The European Commission has cleared the proposed acquisition of US-based Columbian Chemicals by Indigold Carbon, which is controlled by the Indian Aditya Birla Group, both worldwide producers of carbon black. Carbon black is a chemical product used mostly in the production of tyres but also in printing inks and plastics. The commission has concluded that although the merger would create one of the three largest companies in the sector, European customers would continue to enjoy healthy competition.

The acquisition, which would bring together two of the four largest worldwide producers of carbon black, was notified to the European Commission for clearance on 5 May this year because the companies do significant business in Europe.

The commission found that continued competition would remain from different producers located within the EEA and also from direct imports from Russian and Ukrainian manufacturers. The current tight supply of carbon black within Europe is attributable to the recession and the consequent reduction in production capacity. The commission found that this potential merger had no significant impact on production levels and that production capacity is likely to respond to the recovery of demand.

(C) WOC News

 

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