A PYMNTS Company

EU: Belgian, Swiss chemical merger sparks Commission probe

By  |  November 5, 2013

The European Commission announced Tuesday that it launched a formal investigation into the proposed joint venture involving Belgian and Swiss chemical firms.

Reports say the propped cooperation between Belgium’s Solvay and Switzerland’s INEOS could hamper competition within the suspension polyvinyl chloride (PVC) and sodium hypochlorite markets, which will be the focus of the EU watchdog’s probe. According to the Commission, the companies’ joint venture would remove a major competitor within those markets.

The chemicals are used to manufacture pipes, window frames, bleach and other disinfection materials.

According to reports, the proposed merger would lead to a business worth $5.84 billion and would lead to the world’s largest PVC producer.

Full content: Yahoo News

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.