IP/09/737
Brussels, 11th May 2009
Mergers: Commission approves proposed joint venture between ABB and Fincantieri
The European Commission has cleared under the EU Merger Regulation the proposed creation of a joint venture between the Swiss provider of power and automation systems ABB and the Italian shipbuilder Fincantieri. The Commission concluded that the transaction would not significantly impede effective competition within the European Economic Area (EEA) or a substantial part of it.
The ABB group is a global provider of power and automation technologies.
Fincantieri is active worldwide on the markets for both merchant and naval ships.
Under the proposed transaction, ABB and Fincantieri would set up a new joint venture focusing on the engineering, development, manufacture and sale of marine automation systems. Marine automation systems are electronically computerised systems, installed in all categories of ships and vessels for the real time monitoring and control of their various systems, such as propulsion, electrical plants, safety systems and auxiliary systems.
The Commission's examination of the proposed transaction showed that for all types of marine automation systems, the merged entity would continue to face several strong, effective competitors with significant market shares.
The Commission's investigation also found that the merged entity would not be in a position to affect competition on the market for marine automation systems by denying competing marine automation suppliers' access to Fincantieri's ships as these suppliers would still be able to sell their products to numerous alternative customers.
The Commission therefore concluded that the proposed transaction does not raise competition concerns.
More information on the case will be available at:
http://ec.europa.eu/competition/mergers/cases/index/m109.html#m_5473
