The Competition Commission has unconditionally approved a merger involving Hanwha Corporation, (acting through its subsidiaries Hanwha Chemical Corporation (HCC) and Hanwha Energy Corporation (HEC)) and Samsung General Chemicals Co., Ltd (SGC). Post-merger, Hanwha Corporation will have sole control over Samsung General Chemicals.
In South Africa, HCC imports and supplies various wholesalers and retailers with a range of products such as linear low density polyethylene, low density polyethylene, high density polyethylene, ethylene vinyl acetate and PVC paste resin. HEC is active in the new energy and solar energy sector and does not supply any products in South Africa. Samsung General Chemicals only supplies purified terephthalic acid to South Africa.
The Commission found that the merger is unlikely to substantially prevent or lessen competition as there is no overlap in any of the activities of the merger parties in South Africa. The merger raised no public interest concerns.