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IP/10/196

Brussels, 25 February 2010

Mergers: Commission approves proposed acquisition of Mitsubishi Rayon by Mitsubishi Chemical Holdings Corporation

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Mitsubishi Rayon Co. Ltd by Mitsubishi Chemical Holdings Corporation, both of Japan. After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.

Mitsubishi Chemical Holdings Corporation is a publicly listed holding company, active in the production and marketing of chemicals, pharmaceuticals, recording media (plastics and carbon fibre). Mitsubishi Rayon Co., Ltd is a publicly listed company, primarily active in the production and marketing of chemicals, plastics, coating materials, synthetic fibres, textiles and carbon fibre.

The proposed transaction would give rise to a number of vertically affected markets. However, the Commission's investigation found that the proposed merger would not close off the market to competition and that a sufficient number of competitors would remain active, due to the combined entity's low market shares in the related markets. Therefore, the Commission found that the proposed concentration would not give rise to any competition concerns on these markets.

The transaction was notified to the Commission for regulatory clearance on 22 January 2010.More information on the case will be available at:

http://ec.europa.eu/competition/mergers/cases/index/m114.html#m_5712


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