Cargotec and also Konecranes on Thursday won EU antitrust clearance for their 4.5-billion-euro ($ 5 billion) offer to produce a worldwide leader in commercial equipment after consenting to unload some companies.
The firms, which supply roadway and also sea-cargo handling equipment and also solutions to sectors, manufacturing facilities, ports and also terminals, revealed their tie-up in October in 2015.
The European Commission claimed the firms’ treatments resolved its problems that the offer might harm competitors and also cause greater rates, verifying a Reuters tale onFeb 4.
“Port terminal operators, logistics companies and a wide range of industrial players in Europe depend on this equipment to lift and carry containers and heavy loads,” European Competition Commissioner Margrethe Vestager claimed in a declaration.
“In the current container shipping industry landscape, we needed to make sure that this merger would not harm the supply chains by further price increases,” she claimed.
Cargotec promised to unload its complete cranes and also straddle/shuttle provider organization, consisting of a factory in Poland and also a certificate for use Cargotec’s Kalmar brand name for the unloaded item groups.
Konecranes will certainly offer its organization for the production and also commercialization of reach stackers, complete container trainers, vacant container trainers and also forklift vehicles, consisting of plants in Sweden and also China in addition to agreements with suppliers.
($ 1 = 0.8951 euros)
(Reuters – Reporting by Foo Yun Chee; editing and enhancing by Jason Neely)
