Press Release: Mergers: Commission opens in-depth investigation into Thules’ take-over of Schneeketten

The European Commission has opened a detailed investigation under the EU Merger Regulation into the planned acquisition by the Swedish company Thule of the Austrian company Schneeketten/Pewag. The Commission’s initial market investigation indicates that the proposed acquisition would raise serious competition concerns in the sector of snow chains. The Commission now has 90 working days – until 22 December 2006 - to take a final decision on whether the concentration would significantly impede effective competition within the European Economic Area (EEA) or a substantial part of it. The decision to open an in-depth inquiry does not prejudge the final result of the investigation.