EU clears Cytec’s acquisition Umeco

EU clears Cytec’s acquisition of Umeco

10:10 AM, 17th July 2012
EU clears Cytec’s acquisition of Umeco

BRUSSELS, BELGIUM: The European Commission has cleared under the EU Merger Regulation, the proposed acquisition of Umeco, by Cytec. The Commission found that the merged entity would continue to face a number of strong competitors in the markets in which it is active and that the proposed transaction would therefore not raise competition concerns.

The parties’ activities overlap mainly in the manufacture and supply of ‘prepregs,’ a specific form of advanced composite material. Prepregs are used to produce parts in a wide range of sectors including the aerospace and automotive industries as well as other industrial applications where they can replace conventional metal materials such as aluminium and steel. The parties’ activities also overlap in the manufacture and supply of certain types of adhesives.

The Commission’s investigation revealed that the proposed transaction would not lead to competition concerns in any of the above mentioned markets, since the relevant market structures would not be significantly altered and there would be sufficient competitors on the markets concerned. The Commission therefore concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.

© WOC News

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