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E.U. Commission approves of titanium/component manufacturer merger

By  |  December 19, 2012
E.U. Commission approves of titanium/component manufacturer merger

The European Commission has announced in a press release that the authority has approved of a proposed merger between Timet and Precision Castparts Corporation (PCC). Timet, a titanium producer based in the U.S., is to be bought out by PCC, a component manufacturer. The Commission noted that due to long-term supply agreements and the bargaining power of original equipment manufacturers, Timet’s prices for inputs could not be increased from the merged body and therefore do not pose a risk to consumers or competition. Timet manufacturers titanium parts for some of PCC’s manufacturing components. The Commission also noted that titanium is also used in aerospace applications, an industry that makes up a small number of engine original equipment manufacturers.

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    Full Content: European Commission

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