EU Commission clears acquisition of Italian Fiamm Energy Technology by Hitachi Chemical Company

The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control over Fiamm Energy Technology S.p.A of Italy by Hitachi Chemical Company of Japan.

Fiamm Energy Technology manufactures lead acid starter batteries and stationary batteries.

Hitachi Chemical is active in the production of functional materials and advanced components and systems, such as automotive products, energy storage devices, electronics components and other diagnostic agents and instruments.

The Commission concluded that the proposed acquisition would raise no competition concerns, given that Fiamm Energy Technology is currently already jointly owned by Hitachi Chemical. The transaction was examined under the simplified merger review procedure.