The European Commission has approved under the EU Merger Regulation the proposed creation of a joint venture between the Swiss provider of power and automation systems, ABB, and the Italian shipbuilder, Fincantieri. The ABB group is a global provider of power and automation technologies. Fincantieri is active worldwide on the merchant and naval ships markets. It was proposed that, under the transaction, ABB and Fincantieri would set up a new joint venture focusing on the engineering, development, manufacture and sale of marine automation systems. Marine automation systems are electronically computerised programmes, installed in all categories of ships and vessels for the real time monitoring and control of their various systems, such as propulsion, electrical plants, safety systems and auxiliary systems. The Commission's examination of the proposed transaction showed that for all types of marine automation systems, the merged entity would continue to face several strong, effective competitors with significant market shares.
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Commission approves proposed joint venture between ABB and Fincantieri
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