EU Commission opens in-depth investigation into Solvay, INEOS deal
BRUSSELS (Reuters) - The European Commission has opened an in-depth investigation into a joint venture proposed by Belgian chemicals group Solvay and Swiss based INEOS, over concerns it may harm competition, the EU's competition watchdog said on Tuesday.
The investigation would focus on the markets of suspension polyvinyl chloride and sodium hypochlorite, as a major competitor would be removed by the combination of the two groups, the Commission said.
"The Commission needs to make sure that competition is preserved for both products and ultimately prevent harm to European consumers," EU Competition Commissioner Joaquin Almunia said.
The EU competition authority set a March 21 deadline for its decision on the deal.
Suspension polyvinyl chloride is used to make pipes and window frames in the construction industry while sodium hypochlorite is used as a bleach for water treatment and disinfection.
The PVC joint venture, with estimated sales of 4.3 billion euros ($5.84 billion), would be the biggest PVC producer globally after Japanese rival Shin-Etsu <7970.T>.
(Reporting by Robert-Jan Bartunek, editing by Foo Yun Chee)
