Brussels – Kingspan's proposed $99m purchase of Tetraplast's polyurethane insulated panels business is under scrutiny by the European Commission. It has given interested companies unit 21 December to lodge their 'observations' on the deal.
The EC is investigating the proposal because of the concentration it would give Kingspan in insulated panel manufacture in Romania. Tetra Steel has two facilities in the country, and another in Serbia. The proposed purchase is being made by Kingspan Holdings Netherlands, which already owns Wetterbest. This company has two insulated panel plants in Romania.
In a publication in the EU's Official Journal, the EC said: 'On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.'