PET PRODUCER RECEIVES MERGER CLEARANCE
The Lithuanian competition authority Konkurencijos taryba cleared the acquisition of 100 per cent of the shares and sole control of the Polish company Industrie Maurizio Peruzzo POLOWAT by the Netherlands-based firm Indorama Netherlands B. V.
On 26 August 2020 Konkurencijos taryba received merger notification. Having evaluated the circumstances related to the transaction, the authority acknowledged that the intended merger would not create or strengthen the dominant position, or significantly restrict competition in the relevant markets.
Undertakings related to the holding company Indorama Netherlands B. V. produce and supply virgin polyethylene terephthalate (PET) chips, polyester filament yarns, polyester staple fibre and other textile yarns and materials made of nylon, polyester, viscose, aramid and hybrids (i.e. nylon and aramid), also supply recycled PET chips.
Industrie Maurizio Peruzzo POLOWAT supplies recycled PET flakes and chips to buyers in Lithuania.
The intended merger must be notified to Konkurencijos taryba and clearance must be obtained if the combined aggregate income of merging parties in the business year preceding the merger exceeds EUR 20 million and the aggregate income of each of at least two merging parties in the business year preceding the merger exceeds EUR 2 million.