commiss decis march declar concentr compat common market eea agreement case comp alcan alusuiss notifi document number english text authent text eea relev ec commiss european commun regard treati establish european commun regard agreement european econom area articl thereof regard council regul eec decemb control concentr undertak amend regul ec articl thereof regard commiss decis novemb initi proceed case undertak concern opportun make view object rais commiss regard opinion advisori committe concentr septemb commiss receiv notif propos concentr alcan aluminium limit hereinaft quot alcan quot acquir sole control undertak alusuiss lonza group ag hereinaft quot alusuiss quot septemb notif declar incomplet parti submit miss inform octob notif complet octob decis date novemb commiss found notifi oper rais doubt compat common market function eea commiss initi proceed case pursuant articl regul eec hereinaft quot merger regul quot parti oper alcan canadian corpor involv aspect aluminium industri activ includ bauxit mine alumina refin power gener aluminium smelt manufactur recycl research develop alusuiss swiss corpor involv aspect aluminium industri activ compris bauxit mine alumina refin aluminium smelt manufactur recycl research develop packag august alcan alusuiss french integr aluminium produc pechinei enter memorandum understand quot mou quot combin respect aluminium packag busi mou combin agreement sign compani alcan make separ independ share exchang offer share alusuiss share pechinei offer stand transact condit transact happen basi inform parti alcan offer alusuiss made prior launch alcan offer pechinei offer regard constitut separ concentr decis concern alcan acquisit sole control alusuiss commun dimens undertak concern combin aggreg worldwid turnov eur billion alcan alusuiss commun wide turnov excess eur million achiev third aggreg commun wide turnov member state notifi oper commun dimens competit assess merg parti vertic integr compani activ stage aluminium suppli chain mine bauxit refin alumina smelt alumina primari aluminium primari aluminium transform semi finish product flat roll product extrus semi finish product process finish product semi finish finish aluminium product wide rang end applic transport industri build construct industri contain packag industri electr industri type interven oper aluminium market merg parti vertic integr produc integr produc activ eea market includ pechinei vaw alcoa norsk hydro hoogoven larg number aluminium transform manufactur mean integr aluminium compani primari aluminium flat roll aluminium raw materi order produc finish aluminium product merg parti suppli compet smaller downstream integr aluminium transform manufactur final applic market commiss conclud propos concentr lead creation domin posit market alumina trihydr lithograph sheet semi rigid contain alumina trihydr product market definit alumina produc refin bauxit vast bulk alumina smelt primari aluminium metal smelter grade alumina sga alumina trihydr quot ath quot intermedi product sga product process notabl flame retard special type fine precipit densifi ath applic larg amount moistur flame retard properti stem water content type special de water ath paper pigment product deterg applic ath larger particl diamet whiten qualiti improv gloss smooth high qualiti paper final type specialti activ ath ceram refractori surfac treatment industri investig carri commiss led conclud ath flame retard constitut distinct product market grade type alumina suppli side consider suppli side substitut flame retard ath low alumina refin suppli eea ow focu metallurg alumina refineri mechan instal intercept ath filter calcin produc ath high level residu bauxit organ compound make unsuit flame retard major supplier flame retard ath eea alcan alusuiss nabaltec alcoa market investig shown increas price flame retard ath induc entri justifi opportun cost capit invest increas capac incumb supplier result small albeit transitori price increas capac increment alumina product heavi costli short medium term price increas flame retard ath profit demand side consider ath flame retard distinct product market type ath type flame retard flame retard addit mix appli treatment organ materi plastic textil timber reduc statist likelihood fire start provid improv resist ignit wide rang potenti fire sourc increas flame retard flammabl materi plastic compound cabl wire driven govern regul consum awar fire safeti standard mention recit type special ath filler paper industri oxid product deterg ceram refractori type ath correspond differ particl size morpholog alumina content impur depend end requir alumina type match intend fine precipit densifi type ath flame retard replac ath abovement applic vice versa effect flame retard specif flammabl product grow concern fire safeti requir build indoor public area plastic compound area match specif flame retard characterist ath low toxic function smoke suppress largest applic polyethylen copolym unsatur polyest rubber epoxi end market carpet back electr applic cabl wire conveyor belt extrud plastic product grow ath eea due growth type polyolefin polyethylen copolym ethylen vinyl acet copolym mixtur polyethylen polypropylen increasingli sheath coat cabl wire telecommun cabl underground locat trend replac pvc floor synthet rubber floor public build increas ath categori altern flame retard substanc applic halogen flame retard halogen substanc effici flame retard toxic gener smoke inorgan flame retard grow environment concern expect lead phase substanc halogen phosphor substanc replac inorgan flame retard ath plastic compound manufactur lsoh label low smoke halogen halogen flame retard substitut ath separ demand lsoh compound stem produc specialis cabl plastic product construct industri produc identifi supplier supplier set price discrimin price increas charg manufactur lsoh plastic compound profit merg firm demand lsoh flame retard notifi parti point altern flame retard properti similar ath magnesium di hydroxid mdh commiss mdh part market ath technic econom differ sever limit demand side substitut ath mdh cost mdh high ath time higher user partli due rel price fact larger volum mdh order achiev high perform flame retard larg amount mdh requir turn affect neg kei mechan properti compound malleabl impact strength claim difficult achiev uniform particl distribut mdh plastic mdh expens higher process temperatur ath ath begin decompos releas origin mass water vapour mdh decompos differ temperatur thermal decomposit make mdh suitabl polymer materi thermoplast resin polypropylen exceed process temperatur process temperatur ath advantag filler term cost technic properti ath prefer filler exclus flame retard lsoh copolym compound applic cabl wire floor manufactur product repli commiss market investig event increas price ath switch flame retard state switch entail high cost ath replac combin retard requir develop formul approv relev final product custom conclus product market definit basi preced point commiss reach conclus exist distinct product market fine precipit densifi ath flame retard manufactur lsoh copolym compound geograph market definit geograph scope ath larger eea handl logist rel transport cost ath main reason determin custom ath chemic plastic industri requir time deliveri small consign deliv econom long distanc high water content flame retard ath make transport long distanc costli final bulk long distanc transport involv danger product deterior useless present minor import eea record eea consumpt parti argu ath market global buyer ath find altern supplier europ alcoa ship ath australia mill mill plant moerdijk rotterdam reynold ship moist ath usa alunort ship high qualiti moist ath brazil huber solem ship high qualiti mill ath usa sumitomo showa denko sell flame retard grade ath japan europ hungalu activ promot eu recent establish addit capac kt precipit ath annum commiss market test altern conclus buyer substitut local suppli major custom supplier moist ath usa brazil viabl altern sell moist ath flame retard supplier locat hungari east sourc ath countri increas oper final cost supplier substitut eea base custom reiter initi view market investig addit cost relat import ath increas final price turn decreas competit product cabl market eea worthwhil import ath event price increas reason commiss consid market flame retard grade ath wider eea competit assess european market major ath supplier alcan martinswerk alusuiss nabaltec alcoa repres eea product remaind held trader eurallumina spa giulini chemi gmbh incemin ag superfo biosector tabl show product capac eea supplier flameretard grade ath gt tabl gt sourc commiss inquiri combin market share merg parti main competitor nabaltec alcan alusuiss world largest produc fine precipit densifi ath alusuiss europ largest supplier strongest market posit germani largest consum halogen free flame retard europ alusuiss larg produc mdh magnifin magnesiaprodukt subsidiari locat austria alcan largest european produc suppli ath burntisland alumina refineri scottish coast nabaltec independ produc specialti alumina close bayer process facil nabaltec bui raw chemic alumina parti process ath high market share merg parti indic market power relev flame retard market addit relev factor high combin market share confirm propos oper lead creation domin posit held merg parti market fine precipit densifi ath flame retard forego product market analysi question consid price increas ath defeat reaction supplier alumina grade replac ath type flame retard conclud suppli demand side substitut occur medium long term depth market investig consid event sustain price increas ath custom measur enabl long run replac ath flame retard plai recent respons statement object parti argu flame retard materi ath constrain price ath phosphor magnesium di hydroxid natur occur mdh brucit mdh deriv seawat materi quot magshield quot quot ultracarb quot inorgan product zinc borat zinc stannat zinc hydroxystann tin oxid molybdenum trioxid melamin commiss market test altern materi manufactur lsoh plastic compound fine densifi precipit ath flame retard answer suggest switch materi occur long run event sustain price increas major buyer ath state materi refer recit gener lesser constitu synergist properti exploit total replac ath equal cost basi phosphoru base compound effect flame retard time cost precipit ath addit fire acid gase creat phosphoru system unaccept case ath addit materi phosphoru prohibit client requir precipit mdh time expens ath custom modest quantiti materi high temperatur specialist compound price preclud major applic quot magshield quot quot ultracarb quot user materi signific technic drawback satisfactori small amount supplement predominantli ath base formul inorgan system custom minor compon synergist ath base formul gener offer high level flame retard case cost higher ath melamin organ compound synergist combin import drawback materi releas toxic gase fire prevent qualifi perfect demand side substitut view custom quot materi directli replac ath limit constrain ath price gener high cost premium ath price rise significantli doubl exist level user replac materi number technic problem tackl insurmount quot commiss conclud long run abovement materi offer suffici potenti competit event sustain price increas ath view altern complementari materi ath parti argu ground ath fine precipit densifi ath price increas ath induc custom switch lower grade precipit ath fine ground ath respect grinder europ start grind sell ath flame retard commiss market test altern materi user fine densifi precipit ath summari reaction neg altern consid statement quot ground ath fine precipit densifi ath quot incorrect gener ground materi ath mdh calcium carbon flame retard properti similar precipit grade larger particl size match physic properti tensil strength surfac finish fact case market precipit product time expens ground product recent number technic modifi precipit grade alcan esd rang introduc give improv process characterist featur unavail convent precipit ground grade statement quot grinder europ start grind sell ath flame retard quot reaction custom neg custom point fact grind ath low tech oper quot grinder quot easili start technic point view shortcom ground product preclud sophist applic parti argu long run supra competit price ath induc entri ath capac market commiss consid limit entri prompt suffici curtail market power parti entri scenario consequ competit ath market discuss recit parti incumb produc nabaltec capac fine precipit densifi ath kt kt produc prompt place market event supra competit price increas ath addit tonnag correspond mere current ath market meaning effect price ath parti argu alcoa react price increas produc materi low cost australian refineri ship europ store larg inventori process mill plant moerdijk netherland start distribut alcoa bring addit kt ath eea current market ath defin eea market precis import econom appli alcoa cost advantag stem import materi australia fade account cost involv import addit invest time import logist handl custom duti transport cost competit alcoa import consid threat exercis market power merg firm parti argu sustain price increas prompt entri hungarian produc hungalu recent develop addit capac kt fine precipit ath current market parti addit capac made sale eea final parti argu compani grind facil activ sale ath start sell mill ath month price increas commiss consid compani core busi ath market establish supplier ath control product suppli chain depend produc commod ath suppli acquir technolog convert raw ath materi fine precipit densifi ath flame retard increas cost basi remov price advantag offer compar supra competit price merg firm pose market entri problem buyer ath sensit qualiti materi bui account custom time chang supplier flame retard mix inform obtain approv custom highli entri prospect discourag anti competit price increas merg firm assum potenti supplier enter market time maximum quantiti project reduc market share parti approxim merg firm largest local produc supplier ath european flam retard market quantiti maxim competit respons price increas loss market share suffici make anticompetit price increas unprofit parti argu excess capac ath prevent supra competit price increas buyer ath state commiss price ath europ recent increas price increas run counter argument price constrain excess capac addit custom state difficulti satisfi demand ath induc seek altern sourc eea ath compet magnesium hydroxid altern filler lsoh compound manufactur lower process temperatur user ath depriv countervail power depend eea base ath supplier applic ath suitabl filler repli questionnair user state ath replac accept increas pass custom custom accept increas cost fire safeti requir observ prevail cost variat conclus basi forego commiss conclud notifi oper result creation domin posit eea market parti ath flame retard manufactur lsoh copolym compound flat roll product market flat roll product frp semi finish aluminium product produc aluminium roll mill constitut raw materi manufactur finish aluminium product rang industri aluminium plate household foil frp produc number step involv hot cold roll hot cold roll mill frp compris categori product correspond specif end applic multipurpos product larg part stockist materi alloc specif sector categori frp mill produc includ common materi alloi xxx xxx xxx build sheet foil stock beverag bodi stock end stock food stock bright sheet braze sheet plate shate sheet plate lithograph sheet fin stock thin gaug xxx xxx autobodi heat treat parti argu frp constitut singl relev market high degre suppli side substitut previou commiss decis aluminium sector frp consid product market commiss note decis concern aluminium produc limit frp activ eea notifi oper requir analysi frp market eea competit problem result oper market investig case shown condit competit type frp degre suppli side substitut vari frp type gener aluminium roll mill produc rang frp quot product mix quot type frp sell price rel profit reflect roll margin profit margin result roll type frp roll margin quot contribut quot profit mill ultim goal mill maximis profit aluminium produc optimis product mix mill produc highest margin type frp avail roll finish equip mill equip produc type frp specif type frp case lithograph sheet mill eea capabl produc type frp product difficult make result requir high degre manag commit workforc disciplin oper practic addit roll margin achiev produc type frp lower standardis type high qualiti requir small roll margin dissuad mill set product process enabl includ product product mix buyer type frp requir supplier pass stringent qualif test year long term commerci relationship set suppli side substitut argument relev respect standard frp categori standard sheet plate foil stock support market investig respect product dealt present decis roll mill activ product type frp start compet market time fashion case transitori price increas suppli side presenc larg number mill influenc competit condit prevail type frp defin distinct product market condit competit distinct market influenc exist aluminium mill eea parti argu frp geograph market limit eea compris eastern european countri turkei russia ci earlier decis aluminium sector commiss defin market frp eea wide case investig specif type frp lithograph sheet show competit take place eea level import duti vari european countri duti free access eea market custom geograph market type frp determin qualiti technolog guarante produc time deliveri short lead time long distanc transport requir good control suppli chain manag stock logist eu produc smaller eu base produc reportedli lower level suppli reliabl custom requir hold larger inventori suppli eastern european countri turkei rel averag rate sale finish good suppli incumb eu base supplier includ parti larger inventori increas custom work capit relat cost unit cost reason import whatsoev record eea russia turkei eastern european countri type product mention reason mention case transitori price increas custom shift purchas countri mill locat consid part eea market remain type frp concern import russia ci amount eea consumpt whilst eastern european countri turkei categori frp produc roll mill countri compris standard xxx xxx xxx sheet build sheet foil stock plate heat treat categori frp conclus commiss accept argument frp constitut singl product market geograph scope includ eea eastern europ russia turkei type frp examin detail decis constitut distinct product market eea geograph dimens lithograph sheet propos concentr result creation duopolist domin posit held merg parti vaw market lithograph sheet merger bring high degre concentr frp product level eea notifi parti roll capac eea combin share term actual product merg parti largest overcapac frp produc eea amp gt final merg parti largest number mill largest rang output opportun optimis product mix frp type sharp contrast posit remain competitor vaw competitor merg firm roll capac amp lt time smaller merg firm capac utilis amp gt competitor lag capac product figur alcoa hoogoven elval norsk hydro grang combin market share merg parti flat roll product indic market power take account significantli lower market posit competitor add effect concentr merg firm competitor vaw competit situat frp applic distort recit merg firm vaw share largest aluminium roll mill worldwid alunorf germani product joint ventur alcan vaw order explain competit assess market number preliminari consider link alcan main competitor vaw norf joint ventur alcan vaw aluminium norf gmbh quot norf quot joint ventur compani own alcan vaw establish build oper aluminium roll plant norf germani product joint ventur oper toll basi parent corpor structur norf concern gmbh act joint ventur vehicl capit share own alcan vaw gmbh own legal titl properti equip roll plant emploi work forc gmbh run chief oper offic geschäftsführer employe gmbh parent compani entitl propos geschäftsführer select requir approv parent compani geschäftsführer respons dai dai manag norf gmbh board director compos director appoint alcan appoint vaw employe repres sharehold meet conven year partnership compani aluminium gemeinschaft norf quot bgb quot set act steer committe compos alcan repres vaw repres geschäftsführer import decis requir approv bgb legal framework cooper parent compani norf reli number agreement agreement show parent agre consensu basi carri norf paragraph describ provis constitu act joint ventur partnership agreement coven summari parent compani joint control norf busi jointli run sharehold manag exercis repres parent compani dai dai busi repres appoint parent compani repres decid unanim follow instruct parent compani matter refer sharehold partnership import decis consent parent compani parent compani grant norf access parent compani patent cost addit invest parent compani decid unanim product oper norf conduct principl parent compani entitl capac quot time mill quot time mill correspond time requir produc tonn standard frp parent compani produc type frp beverag stock lithograph sheet time requir number pass mill increas quot equival factor quot correspond extratim need product type frp compar standard frp norf manag send parent compani equival factor product type frp produc norf parent compani send manag norf forecast standard tonn forecast parent compani meet capac entitl month parent compani accept deviat fix cost share equal parent compani variabl cost attribut mean quot toll fee quot charg utilis mill norf manag inform parent compani capac utilis parent compani aggreg frp type aggreg weight quot equival factor quot applic parent compani product parent compani inform share fix cost total amount variabl cost born parent compani aggreg frp type calcul basi standard tonn product process parent compani inform norf manag product process number pass norf manag suppos disclos inform parent compani parti argu norf joint ventur classic product joint ventur time share facil claim norf restrict competit parent compani result merger structur argument minimis inform flow parent compani competit sensit inform pass parent compani parti parent compani anticip competit action parent compani share competit sensit inform inform parent compani custom base sell price quantiti finish product deliv scope joint ventur remain parent compani reach final product differenti place stage product perform mill norf case lithograph sheet ultim parent compani exact product mix differ cost basi parent compani final parti argu norf arrang involv profit share alcan vaw ration parent compani engag collus behavior commiss consid degre interdepend stem joint oper norf prevent qualifi simpl time share facil substanc norf oper product joint ventur examin account cooper aspect joint oper includ govern principl consensu parent compani result agreement oper norf larg amount industri cooper achiev parent compani indic degre integr parent compani norf time share facil norf roll mill joint ventur world wide set consid riski project gener accept oper suffici level effici parent compani pool resourc norf joint product facil singl labour forc serv parent compani term cost pertain oper norf norf common depart respons determin product sequenc parent compani make technic find parent compani parent compani vaw made econom sens jointli build oper norf frp type produc parent compani produc differ parent compani norf dedic product line includ hot cold mill process finish machin slitter type frp norf produc dedic line stem common interest parent compani reduc common cost invest norf jointli agre parent compani instanc determin proper technolog decid jointli technic specif invest jointli discuss agre bgb forego reason conclud norf joint ventur time share facil commiss consid presenc largest eea produc frp joint structur manufactur product merg firm acquir import market posit pose competit problem stem legal structur norf result de facto cooper parent compani strong depend vaw norf capac constraint roll mill alcan veto invest propos vaw abil merg firm rais vaw cost decreas abil compet asymmetr capac constraint favour merg firm credibl threat retali vaw creat situat collus parent compani norf sustain long run situat analys recit legal structur norf requir constant consensu base cooper parent compani norf continu oper effect merger parent compani agre aspect product process increas transpar predict competit strategi parent compani instanc technic financi cooper parent compani order major invest requir consent parent compani routin oper creat opportun cooper argument parti arrang manag oper norf relat exchang inform disregard differ pre merger situat post merger question competit situat chang propos merger respect parti argu post basi pre merger situat exchang inform prevent parent compani alcan vaw compet effect contrast post merger relat merg firm vaw matter futur assess context market structur prevail notifi acquisit merger norf effect continu oper alcan vaw agre aspect product process merger alter vaw incent compet ultim vaw incent align competit behaviour merg firm compet aggress stem combin factor vaw strong depend output norf capac constraint alcan veto expans invest conjunct overcapac merg firm largest underutilis roll capac eea vaw total depend norf number frp beverag bodi stock end stock lithograph sheet braze sheet merger alcan depend norf complet merger combin entiti longer depend norf addit hot roll capac brought merg partner vaw decid compet fierc merg firm view captur addit market share increas roll capac vaw reach agreement merg firm block invest perceiv enabl vaw compet parti argu vaw announc invest aim expans capac roll mill cisterna hamburg expans reduc vaw depend norf provid need capac order compet merg firm commiss agre argument parti plan capac expans concern vaw cold roll mill plant continu suppli hot roll band input come norf mill suppli hot mill vaw technolog differ hot roll process norf mill product dimens make norf system incompat mill contrari argument parti plan expans increas vaw depend hot mill norf thirdli econom theori suggest firm asymmetr capac constraint affect degre collus short run long run enhanc possibl credibl threat retali case exist asymmetr capac favor merg entiti exist de facto punish mechan stem function norf affect vaw incent engag price war condit relat asymmetri capac constraint illustr merg firm capac utilis amp lt compar vaw amp gt condit relat credibl threat retali illustr asymmetri degre vaw merg firm depend norf merger enabl merg firm rais rival cost merg firm vaw remain parent compani norf joint ventur addit roll mill acquir merg partner merg firm flexibl suppli side shift product norf case alcan merg firm increas vaw cost norf reorganis product merg firm roll system announc post merger reorganis result cost save hundr million dollar ultim benefit rais vaw cost vaw forc charg higher price custom increas demand merg firm output enabl rais price altern vaw decid increas price suffer decreas profit merg firm increas vaw cost whilst reorganis product mix norf mention recit function norf base common optimis parent compani product mix chang product mix alter cost situat norf circumst chang cost structur harm parent compani instanc cost born partner base factual level utilis facil merg firm decid redistribut frp norf replac frp vaw bear disproportion share cost aris unus capac chang product mix norf repercuss oper product process accompani equip cast hous type alloi scrap chain number pass finish equip disturb cost share equilibrium basi norf function optim date addition dai dai oper norf parent compani collabor work effici diminut rel commit parent compani neg repercuss profit vaw strong depend norf relax merg firm commit norf rais vaw cost affect abil compet ow cast hous cost share norf cost roll mill alloc technic feasibl merg firm rais vaw product cost norf reduc amount activ norf chang product mix norf parti strategi consist rais rival cost sound deterior vaw cost basi greater merg firm case realloc product mix norf make econom sens result leav merg firm share norf unutilis parti amount sever opportun cost chang product mix norf redistribut product norf offset keep norf reload impact vaw parti margin cost result realloc lithograph sheet beverag bodi stock norf reload norf type frp case lithograph sheet parti estim parent compani margin cost increas vaw cost increas merg firm case frp type beverag bodi stock increas sharper vaw realloc product norf result cost save merg firm cost increas vaw result cost differ detriment vaw close amp gt commiss agre parti cost penalti born vaw inflict dissuas cost increas merg entiti preced paragraph realloc scenario analys parti vaw cost penalti bigger merg firm commiss accept vaw cost variat small prevent compet aggress state time parti margin achiev roll busi minim small scale variat cost basi signific consequ competit produc result vaw keen engag price war contrari align behaviour merg firm expect maximis profit output higher price higher market share addit current depend vaw norf fact remain attempt part entiti vaw gain market share expens necessarili effect rate capac utilis product mix norf cost structur parti exist norf modifi parti incent compet fact cost basi frp type manufactur norf similar parti diminish amount price competit parti realist practic merg firm vaw compet multitud market prospect retali market stem multi market contact provid ration reason align strategi merg firm vaw vaw explain public oral hear held januari februari view futur competit posit result merger vaw believ perman threat retali measur fundament affect suppli norf competit activ vaw anticip reaction joint ventur partner tend refrain activ trigger reaction merg firm reduc vaw willing engag fierc competit consequ forego opinion commiss exist norf reduc competit merg entiti vaw accord approach context merger control review commiss assum ration action market analys recit align competit strategi merg firm vaw lithograph sheet product market definit lithograph sheet type bright surfac flat roll product manufactur photograph print plate aluminium roll mill produc special type product sell photograph compani facil surfac treat slit resel end user subsidiari parti photograph compani printer newspap magazin demand side substitut aluminium lithograph sheet materi made metal parti claim suppli side exist high degre substitut market investig true crucial technic requir lithograph sheet flat surfac carefulli de greas specif special machin capabl involv produc flat surfac custom establish aluminium mill potenti supplier event increas price lithograph sheet custom requir supplier pass stringent qualif process start puchas process year qualif gener includ multi phase test programm aim determin final product specif requir custom full entri addit certif procedur produc undertak invest eur million eur million constantli improv qualiti elval refer paragraph illustr long aluminium mill establish market place qualifi supplier lithograph sheet barrier entri market high limit number aluminium produc activ alcan alusuiss vaw alcoa elval stage enter market price increas result time success entri exist supplier degre commit capit cost time lag make prospect entri uncertain supra competit price increas magnitud remain unchalleng reason commiss consid lithograph sheet distinct relev product market geograph market definit geograph market lithograph sheet restrain eea eea base custom purchas lithograph sheet local supplier reason limit import eea custom duti long lead time import materi transport time local purchas materi dai oppos week import materi import compel custom bui larg quantiti set follow larg inventori reason uncertainti import remot supplier provid qualiti sale technic assist eea base custom qualiti sheet differ substanti lithograph sheet import eu thick width sheet custom exampl differ size sheet deliveri entail extra cost loss product custom materi larger size trim fit custom machineri result loss output narrow product return spoil resold lower price standard flat roll product custom import limit quantiti japanes supplier custom european subsidiari japanes photograph compani ow exist suppli agreement parent compani local japanes supplier made divert europ part volum purchas japan import account maximum custom suppli requir made outward process custom system consist import limit quantiti product order process commun view export ad product custom product number amount duti paid import refund product export rest import account eea consumpt parti argu import account approxim reduct import due lost volum usa turn due strong appreci dollar assum dollar depreci euro zone import usa rise suffici point conclus market consist broader eea import depend busi cycl currenc fluctuat repres structur featur market constitut stabl reliabl sourc suppli present analysi conclud market lithograph sheet eea wide competit assess eea product lithograph sheet kt merg firm account kt eea product alcan kt alusuiss kt competitor produc suppli litho eea includ vaw alcoa elval amp lt degre concentr litho market signific merger reduc number present supplier vaw constitut competit threat exercis market power merg firm merger vaw biggest produc supplier litho eea merger commiss longer vaw genuin competit threat merg firm vaw finish lithograph sheet product plant grevenbroich cisterna account vaw lithograph sheet product plant depend norf suppli hot roll band lithograph sheet chapter norf joint ventur altern sourc suppli hot roll band lithograph qualiti produc band alusuiss alcan alcoa inesp competitor suppli vaw norf joint ventur alcan vaw forego analysi norf joint ventur explain merger alter incent vaw compet entiti remain parent compani norf individu market characterist merg firm vaw gener featur lithograph sheet market suggest result merger econom interest competitor align market posit merg firm vaw symmetr product cost hand initi step product hot roll place norf hand individu process separ plant involv technolog product cost degre transpar prevail joint product unit result partner difficulti track action add predict requir competitor detect time action competitor align behaviour competitor similar product process function joint ventur strengthen relat interdepend parent compani ultim goal optim function ventur breach optimum act parent suffici disincent compet head lithograph sheet fairli homogen product technolog acquir produc differenti lithograph product produc competitor price relev factor competit market lithograph market transpar price negoti yearli basi custom merg firm vaw suppli negoti buyer supplier price price rang offer competitor buyer bring supplier competit expect achiev fair market price result bid supplier tend market price moment lithograph sheet market stagnant due fact demand offset industri declin due develop form paper free media electron internet media stagnant market conduc parallel behaviour high growth market incent entri higher incent exist player compet increas market share contrast lithograph sheet market incent compet competitor increas custom base expens competitor price relev competit factor final market characterist corrobor exist substanti structur link main competitor norf joint ventur exist norf chang significantli incent parent compani compet vaw profit follow price increas lithograph sheet initi merg firm absenc suffici competit respons exist local supplier import materi parallel price increas lead joint profit maximis explain recit norf joint ventur parent optimis product mix norf cost basi lowest level make cooper parent compani inevit futur invest chang product mix decid jointli sum decis output norf involv parent compani vaw incent compet order steal custom partner explain relev paragraph norf vaw compet increas capac norf merg firm block invest addition merg firm dissuad vaw compet aggress credibl threat retali achiev rais vaw cost norf render competit parti calcul simpl reorganis merg firm product mix norf result vaw cost higher merg firm merg firm vaw continu jointli control norf vaw regard effect actual competitor keen defeat supra competit price increas lithograph sheet alcoa real competit forc market lithograph product capac eea limit account market order defeat price increas convert larg part current product mix lithograph sheet assum relev opportun cost increas capac capac increas place satisfi demand product entail big invest manag system motiv global consider snapshot price increas product market lithograph sheet alcoa wish incur expans cost import materi mill transport cost import duti erod price competit import materi circumst alcoa profit follow price increas maximis profit quantiti sold final elval smallest exist supplier elval attempt enter lithograph market todai produc suppli qualiti materi consist elval produc materi experiment basi test shipment tonn made year decis enter market qualif process eea custom termin elval believ invest time requir full accept custom achiev elval consid competit threat eea lithograph market elval illustr signific barrier prevent entri lithograph market top eur million eur million invest set finish line aluminium mill activ lithograph sheet undertak signific invest time resourc order qualifi custom time lag competit threat side meaning long period time amount year hoogoven largest aluminium produc part coru group british steel hoogoven activ product lithograph sheet quit market recent hoogoven state activ increas qualiti requir set custom envisag invest eur million order catch fact main competitor set finish line specif gear manufactur product conclud actual potenti competit allevi market power merg entiti acquir result concentr parti argu custom consider bui power larg corpor photograph industri concentr aluminium industri market investig custom necessarili countervail power lithograph sheet market highli concentr photograph industri merger indic custom bui power merger concentr part lithograph sheet produc increas substanti effect norf competit behaviour merg firm vaw low competit prospect elval eea supplier lithograph sheet chang alcoa substanti smaller rapproch largest effici pre merger supplier expect advers affect exist equilibrium term countervail power loss countervail power accentu imposs switch altern materi long time period potenti entrant establish oper acquir recognit import japan usa increas oper cost custom affect profit result import constitut credibl threat local supplier custom exercis countervail power merger conclus reason outlin preced paragraph commiss consid concentr result creation duopolist domin posit held merg parti vaw eea market lithograph sheet packag market semi rigid contain relev product market semi rigid aluminium contain put number end petfood contain frozen food contain food trai airlin food contain semi rigid aluminium contain coat smoothwal contain uncoat wrinklewal contain parti opinion relev market compris type aluminium contain contain made materi multilay plastic steel pouch market investig support view demand side substitut view custom contact semi rigid smoothwal contain constitut separ product market wrinklewal contain wrinklewal contain seal close lid aluminium metallis carton wrinklewal contain frozen food extens varieti bakeri cater product long shelf life food wet state packag sterilis seal contain order guarante safe hygien long shelf life coat aluminium heat resist need sterilis smoothwal contain seal edg lid seal shelf life year differ properti reflect consider higher price smoothwal contain price differenti coat uncoat aluminium contain order parti multilay plastic contain viabl altern aluminium smoothwal contain shelf life plastic contain month quarter sterilis smoothwal aluminium contain fact put plastic contain consider disadvantag vi vi aluminium contain coat semi rigid aluminium contain packag petfood sterilis food human consumpt smoothwal contain long shelf life guarante lead complet suppli chain uncommon sterilis food arriv shelv point sale week month produc plastic contain suffer market point view parti claim mar multilay plastic contain product usa mar contain europ fact cheaper reason appear plastic squar premium brand packag aluminium contain parti point swiss compani sänti sold contain packag pet food largest retail switzerland migro alleg aluminium contain harm environ plastic contain turn multilay plastic contain difficult recycl aluminium contain migro switch back aluminium multilay contain altern propos parti steel contain rigid steel consider heavier aluminium make unsuit singl serv contain predominantli multiserv segment content gener market point custom point fact aluminium properti term market achiev steel properti includ greater conveni open import premium brand appear semi rigid steel contain price lamin semi rigid steel contain parti higher lastli parti point pouch altern smoothwal aluminium contain pouch thin aluminium layer seal pouch guarante similar long shelf life smoothwal contain singl serv size product gain market share recent time commiss underlin gain market share expens smoothwal contain expens tinplat growth forecast pouch market player come year whilst aluminium contain grow rate tinplat stagnant declin reflect fact demand singl serv size grow fast size tinplat plai minor role pouch product semi liquid consist chunk gravi smoothwal contain jelli paté product jelli paté product packag pouch switch pouch requir reformul product pouch consid custom altern smoothwal contain switch pouch requir fill line advertis campaign estim custom switch cost high eur million limit demand side substitut semi rigid coat aluminium contain pouch parti claim food product pack plastic smoothwal semi rigid contain product includ singl serv jam marmalad coffe creamer chees spread product sterilis pack aluminium shelf life similarli readi meal board airplan pack smoothwal aluminium contain sterilis product applic demand side substitut exist mention applic account demand smoothwal contain reason demand side substitut packag sterilis food product smoothwal aluminium contain multilay plastic contain steel contain pouch limit suppli side substitut parti claim high degre suppli side substitut produc wrinklewal smoothwal contain smoothwal contain made lamin aluminium foil refer lamin strip strip materi press shape contain lid ad close contain strip standard contain foil polypropylen strip ad lamin machin parti claim limit intellectu properti right requir produc lamin strip equip lamin glue polypropylen strip aluminium frp parti cost machin eur produc wrinklewal contain produc smoothwal contain contain press capac contain press product capac million contain market cost eur order produc smoothwal contain produc wrinklewal contain chang tool form tool smoothwal contain cost market investig eur custom order shape size tool meet demand addit press lid cost eur includ tool produc wrinklewal contain invest eur million eur million machineri total invest convert aluminium foil lamin strip start produc smoothwal contain amount eur million commiss consid smoothwal wrinklewal contain belong separ market conclus reason conclus commiss separ market semi rigid coat aluminium smoothwal contain packag sterilis product suggest commiss decis april case iv alcan inesp relev geograph market view parti semi rigid aluminium contain transport low cost europ price similar europ parti relev geograph market eea market investig reveal import europ margin logist consider time deliveri import relev geograph market purpos decis limit eea competit assess market share parti smoothwal contain amount alusuiss add alcan competitor includ dester alupack pluspack amp lt teich amp lt gt tabl gt competitor vertic integr teich teich part teich constantia group stake amag hot cold roll mill austria produc lamin strip competitor depend suppli lamin strip parti market player integr produc pluspack fact die cut press aluminium contain technolog develop supplier aluminium foil lamin strip parti amp gt final price smoothwal contain determin cost aluminium foil lamin parti strong posit materi claim independ supplier lamin strip vaw compani feron omial small firm small capac parti claim feron easili increas capac tonn increas number shift product mix alleg reject feron case omial custom opinion omial produc requir high qualiti letter submit parti omial ask parti technic cooper compani pure convert bui aluminium foil integr compani vaw parti direct competitor downstream market lamin strip instanc integr compani teich face sever problem year ago demand shift contain lid coat extrus process teich extrus capabl hous parti merger refus suppli type lid teich led difficult situat teich parti demand side highli concentr largest custom smoothwal contain mar account total market oppos market share parti individu custom alcan account sale biggest custom alusuiss account sale case market leader alcan top custom account amp gt sale figur alusuiss amp gt turn top custom mar nestlé saturn sourc merg parti imbal bargain power merg parti custom coat semi rigid aluminium contain packag petfood parti claim price smoothwal contain decreas recent year reflect market situat lead firm compet merger unit top supplier smoothwal contain time bigger nearest rival correct custom switch supplier time frame year problem find supplier spare capac meet demand event post merger price increas compani mar shift consider part demand smaller supplier petfood contain teich alupack invest invest capac carri risk parti appli limit price strategi econom viabl small produc follow increas price merg parti rise price pass final consum mar undisput market leader petfood share half market close mar largest collect premium brand petfood produc similar brand albeit smaller nestlé price smoothwal contain account final sale price petfood increas result increas final product mar find difficult pass final consum petfood supplier saturn arovit produc privat label follow lead price gap brand product privat label remain conclus basi forego commiss conclud notifi oper result creation domin posit eea market semi rigid coat aluminium contain commit propos notifi parti februari notifi parti offer commit remov competit concern commiss identifi statement object januari commit summaris assess point order relev market commiss state object assess part decis full text commit attach decis form integr part alumina tri hydrat ath busi parti mean ath plant oper algroup martinswerk germani relat human resourc tangibl intang asset alcan undertak divest ath busi period month date commiss decis declar concentr compat common market hereinaft quot date decis quot alcan effect divest end ninth month date decis request commiss extend month period month alcan effect divest end ninth month date decis case alcan give irrevoc mandat truste effect sale ath busi period month minimum price order enhanc commerci viabil ath busi prospect purchas ath busi includ assign purchas exist contract contract enter date commit februari conclus sale ath busi relat ath busi suffici sale staff product administr personnel oper ath busi concern alcan deem compli undertak ninth month case enter bind contract sale ath busi purchas approv commiss assess propos undertak remov overlap merg parti activ market test carri commiss propos ath plant consid viabl busi modal implement propos undertak transfer busi concern hold separ provis divestitur period guarante ath busi suffer damag divestitur period effect competit restor ath market divestitur condit fulfil statu quo ant prevail concentr establish concentr subject fulfil propos undertak lead creation domin posit eea market ath lithograph sheet litho busi parti mean lithograph oper carri algroup star mill bridgenorth unit kingdom includ cast hous hot mill cold mill litho finish line alcan undertak divest litho busi period month date decis alcan effect divest end ninth month date decis request commiss extend month period month alcan effect divest end ninth month date decis case alcan give irrevoc mandat truste effect sale litho busi period month minimum price order enhanc commerci viabil litho busi prospect purchas litho busi includ assign purchas exist contract contract enter date commit februari conclus sale litho busi relat litho busi suffici sale staff product administr personnel oper litho busi concern alcan undertak offer provid purchas litho busi technic assist continu exist algroup technolog litho busi year date conclus sale litho busi alcan deem compli undertak month period case enter bind contract sale litho busi purchas approv commiss assess propos undertak remov competit overlap lithograph sheet market lithograph product merg firm organis alcan norf mill hot coil norf satellit mill finish alusuiss bridgenorth mill hot coil finish parti propos divest hot mill relat cast hous cold mill star cold mill produc foilstock litho stock commiss confirm parti oper market provid hot mill offer purchas autonom produc supplier lithograph sheet extent control qualiti metal suppli chain order make divest packag attract prospect purchas notifi parti propos divest cold mill produc foilstock addit measur propos order allevi concern rais market test divest hot mill produc hot roll band absorb cold litho mill act econom obstacl profit oper hot mill purchas find outlet dispos extra capac acquir foilstock cold mill addit litho mill purchas divest asset cold roll surplu output hot mill sell foilstock commod frp market make profit oper hot mill litho busi gener circumst last effect competit lithograph sheet restor result undertak propos notifi parti implement accompani measur transfer busi concern hold separ provis divestitur period offer technic assist purchas guarante litho busi suffer damag divestitur period purchas compet effect litho market divestitur condit fulfil statu quo ant prevail concentr establish concentr subject fulfil propos undertak lead creation domin posit eea market lithograph sheet semi rigid aluminium contain alcan undertak sell parti approv commiss punch machin aggreg annual capac tonn manufactur smoothwal semi rigid contain accompani lid hereinaft quot transfer semi rigid aluminium contain busi quot addit request parti purchas alcan undertak grant licenc normal commerci term respect alcan exist technolog technolog lamin aluminium foil manufactur smoothwal semi rigid contain accompani lid alcan undertak effect transfer semi rigid aluminium contain busi month date decis parti purchas approv commiss alcan effect transfer end ninth month date decis request commiss extend month period month alcan effect divest end ninth month date decis case alcan give irrevoc mandat truste effect transfer semi rigid aluminium contain busi period month minimum price order enhanc commerci viabil transfer semi rigid aluminium contain busi prospect purchas includ assign purchas custom contract relat transfer semi rigid aluminium contain busi transfer custom contract includ relev custom specif mould equip relat contract alcan offer purchas competit solicit claus durat year extend request purchas year request made commiss pursuant alcan merg entiti seek solicit custom transfer semi rigid aluminium contain busi accept assign contract purchas contract termin purchas assess propos undertak intend reinstat produc supplier semi rigid smoothwal aluminium contain concern divest annual capac competit overlap result market test busi divest concern acquir access punch machin custom contract relev contract specif mould equip alcan lamin technolog transfer custom contract effect provid accompani competit solicit claus alcan compli requir condit fulfil compet forc establish market concentr subject fulfil propos undertak lead creation domin posit eea market semi rigid smoothwal aluminium contain conclus propos commit base forego assess propos undertak commiss conclud suffici elimin competit problem identifi market ath lithograph sheet semi rigid smoothwal aluminium contain adopt decis articl condit undertak summaris recit set detail annex fulli compli concentr alcan aluminium limit quot alcan quot acquir mean articl regul eec control alusuiss lonza group ag quot alusuiss quot declar compat common market function eea agreement articl decis address alcan aluminium limit sherbrook street west montreal quebec canada mr david ausland execut vice presid brussel march commiss mario monti member commiss oj corrigendum oj oj corrigendum oj oj turnov calcul accord articl merger regul commiss notic calcul turnov oj extent figur includ turnov period calcul basi averag ecu exchang rate translat eur basi primari aluminium commod trade london metal exchang lme daili quotat lme price fix reflect suppli demand primari aluminium refer thermodynam stabil alcoa alumix case iv decis decemb oj alcoa inesp case iv decis octob oj vaw reynold metal case iv decis oj roll mill joint ventur alcan arco logan usa compar norf respect arco divest aluminium activ logan mill manag alcan logan mill smaller scale complic oper norf norf largest aluminium mill world thirdli logan produc bodi end stock jointli run entail complex manag competit product mix oj annex full origin text condit oblig refer articl consult commiss websit http europa eu int comm competit index en html