The proposed merger between Vetrotex, a subsidiary of Compagnie de Saint-Gobain (Saint Gobain), and Owens Corning was approved subject to conditions. Owens Corning and Vetrotex are active in the glass fibre reinforcements and composite fabrics industry. Glass fibre reinforcements, when combined with resin, form compounds utilised in the construction, car and electronics industries. Composite fabrics are used in the manufacture of shipping containers and wind generator blades. The European Commission found that the proposed merger would raise competition concerns in the direct rovings sector and dry use chopped strands markets, where the combined company would become the market leader. The merger also posed a risk of creating a monopoly in the continuous filament mat market. Owen Corning will therefore divest itself of two of its glass fibre reinforcement plants in Belgium and Norway in order to satisfy the Commission’s concerns.
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