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Mergers: Commission clears acquisition of parts of Hoesch Schwerter Profile by KION and Jungheinrich  

15/04/2021 | Economia |  Daily News 13/04/2021

Source: European Commission Spokesperson's Service

The European Commission has approved, under the EU Merger Regulation, the acquisition of parts of Hoesch Schwerter Profile GmbH (‘HSP’), by KION GROUP AG (‘KION’) and Jungheinrich AG, all of Germany. HSP currently belongs to Calvi Holdings S.p.A of Italy, and manufactures and supplies special steel profiles, which are used inter alia in forklift trucks and warehouse equipment. KION is controlled by Shandong Heavy Industry Group Co., Ltd. of China. Both KION and Jungheinrich manufacture and supply forklift trucks and warehouse equipment. The Commission concluded that the proposed acquisition would raise no competition concerns, given the limited foreseen activities of the joint venture in the European Economic Area. In addition, the Commission found that there are sufficient alternative suppliers of special steel profiles available to manufacturers of forklift trucks and warehouse equipment, as well as sufficient customers, including KION and Jungheinrich, for manufacturers of steel profiles other than HSP. The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.10081

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acquisition equipment competition GROUP KION special that trucks case European manufacturers profiles sufficient available Commission forklift Jungheinrich Merger steel under warehouse
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