Hobas and Flowtite merger approved16 August 2017
Austria – August saw the European Commission approve the merger of Hobas and Flowtite. The companies, owned by Amiantit and Wietersdorfer respectively, are pipe manufacturers.
Amiantit of Saudi Arabia will own and Austria’s Wietersdorfer will own the new business on a 50-50 basis. The holding company will be based in Austria from September 2017.
The European Commission stated that the proposed acquisition would raise no competition concerns because the merged entity will continue competing with other GRP pipes manufacturers, as well as manufacturers of pipes of other materials that are used for the same applications.