The European Commission said on August 4 that the EC has approved, under the EU Merger Regulation, the acquisition of joint control over Hobas Europe of Austria by Wietersdorfer of Austria and Amiantit of Saudi Arabia.
Both Wietersdorfer and Amiantit are active in the manufacture and sale of pipes and pipe systems in Europe and worldwide.
Hobas Europe, an existing subsidiary of Wietersdorfer, will operate Wietersdorfer’s and Amiantit’s European businesses in the manufacture and sale of fibre glass reinforced plastic (GRP) pipes and pipe systems.
The Commission said in a press release that the EC concluded that the proposed acquisition would raise no competition concerns because the merged entity will continue competing with other GRP pipes manufacturers, as well as manufacturers of pipes of other materials that are used for the same applications.
The operation was examined under the normal merger review procedure, the Commission said.