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EU: PVC joint venture hits roadblock

 |  January 22, 2014

The European Commission has reportedly issued a statement of objections to the PVC manufacturers planning a joint venture, say reports.

The $5.8 billion partnership between Ineos Group Holdings and Solvay, the EU’s largest PVC makers, were already under investigation by the Commission since last November for the deal. Since, Ineos told reporters that a formal statement of objections has been sent regarding the partnership.

The EU authority first raised concern over the deal’s effect on harming competition in the bleach and suspension-PVC resin industry; the products are used to make window frames and pipes, say reports.

The Commission has until April 4 to rule on the deal. Ineos said the companies will continue to work with the Commission.

Full Content: Bloomberg

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