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| In-depth investigation into Aker Kvaerner's sale of businesses The application of Finland-based company Metso Corporation for the clearance of its purchase agreement of the Norwegian group Aker Kvaerner's Pulping and Power businesses has been extended into the second phase in the EU review process. The European Commission’s initial market investigation has found that the proposed acquisition may create competition problems in the markets for pulp mill equipment. The Commission now has 90 working days – until 20 December 2006 - to take a final decision on whether the concentration would significantly impede effective competition within the European Economic Area (EEA) or a substantial part of it. Both Metso and Aker Kvaerner are active worldwide in the development and production of equipment for pulp mills. There are only three leading suppliers that dominate the supply of pulping machinery today: Metso, Aker Kvaerner and the current market leader, the Austrian based company Andritz. The Commission has identified significant barriers to entry on these markets due to the high degree of specific know-how required to produce modern pulp mill machinery. write your comments about the article :: © 2006 Construction News :: home page |