Brussels, 17/03/2015 (Agence Europe) - On 16 March, the European Commission cleared the proposed acquisition of the Belgian group Joris Ide (Steel Partners NV/SA) by its Irish rival, Kingspan Group Plc.
Both companies are active in the production of sandwich panels and construction sheets in several production sites in the European Economic Area (EEA). The merged entity would continue to face sufficiently strong competition and customers will still have plenty of alternative suppliers in all markets concerned, the Commission concluded. It examined the effects of the operation on competition in the field of sandwich panels, focusing on three geographical areas with considerable overlaps: the Benelux countries and surrounding area, the United Kingdom and Ireland, and Hungary and surrounding area. It also looked at the competitive landscape for mineral wool panels (a type of sandwich panel) at EEA level, and for construction sheets in Austria and Hungary. (Élodie Lamer)