On Friday 2 July, the European Commission opened an in-depth investigation to examine the proposed merger of Cargotec Corporation (Cargotec) and Konecranes Plc (Konecranes) under the EU Merger Regulation.
Cargotec and Konecranes are the two largest European manufacturers and among the leading global manufacturers of container handling equipment and cargo solutions. They also provide terminal automation solutions.
At this stage, the Commission is concerned that the transaction may lead to a reduced choice and higher prices for customers in the European Economic Area for certain container and cargo handling equipment in the following product areas: gantry cranes, horizontal equipment and mobile equipment.
For each of these types of terminal equipment, the transaction would lead to high combined market shares in already concentrated markets, with limited or even no credible alternative suppliers remaining post-transaction.
The Commission will now carry out an in-depth investigation into the effects of the proposed transaction on these markets to determine whether it is likely to significantly reduce effective competition.
The Commission has 90 working days, until 10 November 2021, to take a decision. The opening of an in-depth investigation does not prejudge the outcome of the procedure. (Original version in French by Lionel Changeur)