commiss decis decemb relat proceed articl eec treati iv de laval stork dutch english text authent eec commiss european commun regard treati establish european econom commun regard council regul februari regul implement articl treati amend act access spain portug articl thereof regard notif made march pursuant articl regul stork roterend werktuigen bv assen netherland stork set agreement conclud septemb de laval turbin intern princeton jersei usa de laval creation joint ventur de laval stork stork parent compani koninklijk machinefabriek stork bv hengelo netherland km parti agreement concern design develop manufactur market type steam turbin centrifug compressor pump regard decis eec commiss grant exempt pursuant articl favour parti period end septemb regard applic renew exempt file undertak juli pursuant articl regul regard public pursuant articl regul summari agreement relev occur decis eec adopt consult advisori committe restrict practic domin posit pursuant articl regul fact exempt decis de laval corpor ownership undergon number time wholli own subsidiari de laval turbin incorpor trenton jersei usa turn control transamerica corpor san francisco california largest conglomer usa parent compani chang transamerica delav decemb ti broken parent compani transamerica corpor accompani chang imo delav fulli independ compani share quot stock market de laval previous princeton lawrencevil jersei remain wholli own subsidiari imo delav km own stork previous assen hengelo netherland parent compani verenigd machinefabrieken nv vmf amsterdam netherland verenigd machinefabrieken stork nv vmf stork likewis amsterdam ownership stork transfer km vmf stork sine exempt decison circumst chang arrang parti origin conclud year renew term indefinit flexibl provis termin month notic parti de laval option extend particip delet machin equip hire purchas belong fulli parent compani de laval continu independ activ respect product cover market eec eastern europ expand activ european market includ manufactur sale equip relat temperatur pressur type electron control product competit produc parent compani group belong group stork belong gradual withdrawn market manufactur sell heavi equip activ result minor particip parent compani corpor involv cooper produc turbin type cover concentr manufactur sell advanc light machineri food paper textil process graphic industri group activ relat assembl servic turbin compressor continu time initi exempt decis involv market pump type purpos extend parti state dutch partner assum activ american partner due unforeseen circumst withdraw time exempt decis competitor turbin sector compressor sector pump sector competitor capabl make turbin compressor number competitor remain risen manufactur turbin manufactur compressor manufactur pump dozen competitor produc compressor pump time exempt decis market share commun estim market share risen member state success market share product rest world market share product concern modest american compani sold product directli commun launch moder medium size market share commun eastern europ surpass product modest market share factor flourish due drop demand number employe reduc server year suffer loss make minim profit profit made justifi distribut thereof partner reason cite result worldwid recess sector concern product overcapac presenc fierc grow competit japan grow tendenc commun bui domest final fall dollar suffer set back due fire destroi part factori area endeavour find market product profit slowli increas connect parti emphas entri capit good busi long term commit public pursuant articl regul fact commiss announc intent renew decis eec observ receiv ii legal assess articl reason state decis eec deem fall scope articl notabl object effect coordin common market research product market activ parent consid remain actual potenti competitor group stork belong gradual withdrawn heavi equip market manufactur sell concern activ relat industri servic turbin compressor continu extend involv includ manufactur sell market pump type consider fact netherland partner problem assum oper word retain access market question american partner reason withdraw lead conclus present parent compani remain actual competitor part activ product cover joint ventur potenti competitor respect remaind suppli structur market continu chang due custom posit choos albeit potenti independ supplier size intern activ compani decis eec arrang deem alter normal flow trade result effect trade member state applic articl articl view benefici effect result cooper parti commiss grant exempt respect notifi arrang made easier de laval enter european market enabl netherland partner reorgan expand turbin compressor busi substanti competit found persist market question detail refer made subsect iii point decis eec decid decis grant exempt renew pursuant articl regul commiss requir articl continu fulfil attent paid materi occur fact circumst case initi exempt grant benefici effect brought term improv product distribut good concern promot technic econom progress continu support argument present subsect iii point initi exempt decis context take account fact arrang parti hamper extern circumst point recent start function fulli fledg basi period exempt provid substanti sourc suppli good question accru take consider market share invold case market condit user enjoi fair share benefit present circumst compani concern capabl elimin competit respect substanti part product concern agreement modifi impos restrict indispens attain benefici effect connect note exempt grant parti oblig amend restrict provis arrang deem indispens attain object articl relat exclus partner grant relat industri independ parti event termin subsect iii point exempt decis restat version agreement parti sought compli condit exempt set articl decis ad save claus objection provis statement indic part thereof found inconsist outstand rule eec prevail commiss request parti subsequ amend relev provis compli textual condit impos event confirm question exclus arisen practic posit meet order custom question post termin oblig immateri agreement forc view consider decis grant exempt renew pursuant articl regul articl regul pursuant articl regul exempt grant decis eec made subject condit articl decis consid fulfil virtu modif made parti point pursuant articl regul requir commiss ensur requir articl continu satisfi untertak oblig inform commiss addit agreement ad hoc basi submit report year activ report requir fulfil period exempt impos agin durat renew fact yearli report develop fall commiss surveil rapid report requir reduc year present market situat posit parti occupi ad hoc report requir limit agreement parti independ busi activ relev present purpos pursuant articl regul commiss decis applic articl issu period present case long term commit prove order full benefit cooper accru capit good busi ten year elaps initi exempt grant shown competit structur sector tendenc remain stabl healthi circumst decis eec renew period year adopt decis articl decis eec renew septemb articl exempt grant subject oblig undertak decis address delai inform commiss amend addit abovemenion agreement matter affect interpret applic includ aris result arbitr undertak refer furnish commiss year full report activ joint ventur undertak decis address delai inform commiss activ turbin compressor boiler feed pump industri pure occasion busi engag independ articl decis address de laval turbin intern incorpor princeton pike po box lawrencevil jersei usa koninklijk machinefabriek stork bv stork roterend werktuigen bv industriestraat postbu cb hengelo netherland de laval stork vof lansinkesweg postbu ah hengelo netherland brussel decemb commiss peter sutherland member commiss oj oj oj