Home / Knowledge / News / Textiles / EU Commission clears Eastman buyout of Solutia

EU Commission clears Eastman buyout of Solutia

29
May '12
The European Commission has cleared under the EU Merger Regulation, the proposed acquisition of Solutia Inc. by Eastman Chemical Company, both US-based chemical companies. The Commission's investigation concluded that the transaction would not raise competition concerns because the parties are not active on the same markets and will continue to face sufficient competition.

The Commission's investigation examined the competitive effects arising from the vertical relationship between Eastman's upstream supply of 2-ethylhexanoic Acid and Solutia's downstream supply of plasticizers for use in polyvinyl butyral sheet.

The Commission found that post transaction, the merged entity would continue to face competition from a number of strong competitors upstream; that 2-EHA producers would continue to have a range of alternative customers inside and outside the European Economic Area; and that the merger would not result in any substantial change in the markets concerned since Solutia is not currently a customer of Eastman in the EEA.

The transaction was notified to the Commission on 16 April 2012.

Companies and products
Eastman is active in the manufacture and supply of chemicals, plastics and fibres world-wide.

Solutia manufactures performance materials and specialty chemicals used in consumer and industrial applications.

Merger control rules and procedures
The Commission has the duty to assess mergers and acquisitions involving companies with a turnover above certain thresholds and to prevent concentrations that would significantly impede effective competition in the EEA or any substantial part of it.

The vast majority of mergers do not pose competition problems and are cleared after a routine review. From the moment a transaction is notified, the Commission generally has a total of 25 working days to decide whether to grant approval or to start an in-depth investigation.

European Commission


Must ReadView All

Pic: Shutterstock

Textiles | On 3rd Aug 2021

Pingnan County in China investing ¥26 bn in textile industry cluster

Pingnan County in the Guangxi region of China is building a textile...

Pic: Shutterstock

Apparel/Garments | On 3rd Aug 2021

84% industrial units in Bangladesh reopen; union leaders concerned

Around 84 per cent of Bangladesh's textile and readymade garment...

Pic: Shutterstock

Apparel/Garments | On 3rd Aug 2021

Prime Content| Vietnam textile & garment exports at $17.953 bn in Jan-June '21

Vietnam earned $17.953 billion from textile and garment exports in...

Interviews View All

Water stewardship, Stakeholders

Water stewardship
Stakeholders

Water use efficiency remains relatively unexplored

Textile Industry, Head honchos

Textile Industry
Head honchos

Extension of RoSCTL to boost textile exports

Textile Industry, Head honchos

Textile Industry
Head honchos

Money never disappears-it just finds new opportunities

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

Rajat Kapoor,

Rajat Kapoor

Seraphine is a British maternity brand providing affordable luxury fashion ...

Barry Goodwin,

Barry Goodwin

UK based Amba Projex Ltd designs, manufactures, and installs industrial...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search