The European Commission has opened an in-depth investigation to assess the proposed acquisition of Pfleiderer Polska by Kronospan, under the EU Merger Regulation. The Commission is concerned that the merger may reduce competition for the supply of various types of woodboard panels in Poland and neighbouring regions.<\/p>\n
Executive Vice-President Margrethe\u00a0Vestager, in charge of competition policy, said:\u00a0\u201cKronospan and Pfleiderer Polska are the largest suppliers of wood-based panels which are important inputs for kitchens and furniture. These markets are already consolidated, so we need to carefully assess whether the changes in the competitive landscape prompted by the proposed acquisition would lead to higher prices and less competition in this sector.\u201d<\/em><\/p>\n Kronospan\u00a0and\u00a0Pfleiderer Polska\u00a0are both leading suppliers of wood-based panels in Europe. Pfleiderer Polska is the Polish wood-based panel subsidiary of the Pfleiderer Group.<\/p>\n The Commission's preliminary competition concerns<\/strong><\/p>\n The Commission's initial market investigation identified a number of preliminary concerns relating to the parties' strong market position in the supply of certain types of wood-based panels.<\/p>\n At this stage, the Commission has the following concerns:<\/p>\n The Commission will now carry out an in-depth investigation into the effects of the transaction to determine whether its initial competition concerns are confirmed.<\/p>\n The proposed transaction was notified to the Commission on 15 February 2022. Kronospan and Pfleiderer Polska decided not to submit commitments during the initial investigation to address the Commission's preliminary concerns. The Commission now has 90 working days, until 22 August 2022, to take a decision. The opening of an in-depth investigation does not prejudge the outcome of the investigation.<\/p>\n On 8 March 2022, the Polish competition authority requested that the Commission referred to it the assessment of the entirety of the proposed transaction. The Commission will continue to assess this request during its in-depth investigation and will work in close cooperation with the Polish competition authority to investigate its competitive concerns.<\/p>","protected":false},"excerpt":{"rendered":" The European Commission has opened an in-depth investigation to assess the proposed acquisition of Pfleiderer Polska by Kronospan, under the EU Merger Regulation. The Commission is concerned that the merger may reduce competition for the supply of various types of … Continue reading \n