Brussels, 01/04/2011 (Agence Europe) - On Friday 1 April 2011, the European Commission gave the go-ahead for Chinese chemical company Bluestar, a subsidiary of Chinese state company China National Chemical Corporation (ChemChina), to buy up Norwegian company Elkem, a manufacturer of silicon and carbon products (such as electrode pastes) used in electric furnaces for the manufacture of aluminium and steel.
In its assessment of the planned deal, notified on 24 February 2011, the Commission examined possible coordination by the Chinese state of market behaviour of various state-owned firms, and concluded that there would remain sufficient competition in the silicon market. Other strong players serving European consumers include FerroAtlántica of Spain, Dow Corning of the US and Germany's Wacker. In its assessment of the links between Chinese state-owned companies in the same industry, the Commission used the same criteria as those applied for assessing mergers involving European state-owned companies. (F.G./transl.fl)