Brussels, 10 May 2023
The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by The Chemours Company Inc (‘Chemours’) of the US and BWT FUMATECH Mobility GmbH (‘Fumatech’) of Austria.
The joint venture will develop, produce and sale hydrogen fuel cell and humidifier membranes for fuel cell systems in the transportation sector. Chemours produces and supplies performance chemicals that are inputs for end-products and processes in a variety of industries. Fumatech is active in membrane manufacturing and plant construction in the field of fuel cell and membrane technology for the treatment of water and process solutions.
The Commission concluded that the proposed acquisition would raise no competition concerns, because the joint venture will have limited activities in the European Economic Area. 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.11070.
Source – EU Commission