commiss decis octob declar concentr incompat common market function eea agreement case comp cvc lenz 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 june initi proceed case undertak concern opportun make view object rais commiss regard opinion advisori committe concentr regard final report hear offic case commiss receiv notif propos concentr pursuant articl regul eec hereinaft quot merger regul quot cvc capit partner group hereinaft quot cvc quot indirectli acquir mean articl merger regul sole control austrian undertak lenz ag hereinaft quot lenz quot purchas share examin notif commiss conclud notifi oper fell scope merger regul amend rais doubt compat common market function eea agreement investig case commiss conclus propos concentr creat strengthen domin posit result effect competit common market function eea agreement significantli imped parti cvc manag consult servic invest fund control interest compani acordi group activ man made fibr special materi industri textil medic hygien applic lenz activ manufactur market man made cellulos fibr textil textil applic engin plastic film paper product ii oper acquir sole control lenz austrian acquisit vehicl control cvc call zellulosefas beteiligungsgesellschaft mbh purchas bank austria major stake lenz complet cvc transfer share capit acordi subsidiari includ acordi activ relat viscos stapl fibr lyocel tencel textil viscos filament enka industri viscos filament cordenka acordi acryl fibr oper kelheim germani grimsbi uk zellulosefas beteiligungsgesellschaft mbh share convert bond purchas agreement februari expir invalid regulatori approv propos oper obtain iii concentr cvc indirectli acquir sole control lenz notifi oper constitut concentr mean articl merger regul iv commun dimens undertak concern combin aggreg worldwid turnov eur billion cvc eur million lenz eur million commun wide turnov excess eur million cvc eur million lenz eur million achiev third respect aggreg commun wide turnov member state notifi oper commun dimens articl merger regul constitut cooper case eea agreement pursuant articl protocol agreement procedur parti offer commit pursuant articl merger regul order achiev phase clearanc notifi oper result commit offer period preliminari examin pursuant articl merger regul extend month week june commiss decid initi proceed pursuant articl merger regul august commiss commun statement pursuant articl merger regul protocol eea agreement hereinaft quot statement object quot notifi parti access commiss file august notifi parti submit august joint repli cvc acordi lenz statement object hereinaft quot repli quot cvc inform commiss hear offic august exercis formal oral hear septemb commiss provid addit inform notifi parti summaris factual element file notifi parti submit addit comment inform letter date septemb hereinaft quot supplementari letter quot septemb notifi parti submit commit aim remov competit concern identifi commiss statement object assess recit seq vi compat common market relev product market preliminari remark notifi concentr relat fibr sector manufactur suppli man made stapl fibr textil textil applic refer quot woven quot quot unspun quot applic acordi activ number fibr area area competit overlap occur cellulos stapl fibr sector viscos stapl fibr lyocel stapl fibr oper creat world lead supplier fibr parti concentr view product market encompass kind natur synthet cellulos stapl fibr filament fibr paragraph classif fibr intend provid background distinct stapl fibr continu filament yarn stapl fibr stapl fibr account world fibr demand histor princip textil applic natur fibr silk anim plant origin stapl fibr fibr limit length cotton wool instanc wide natur stapl fibr characteris stapl length mm mm stapl fibr spun yarn subsequ woven knit textil applic unspun woven form instanc tradition felt fill materi cushion bedspread recent wider rang applic man made stapl fibr develop imit enhanc qualiti natur fibr man made stapl fibr type whilst cellulos fibr viscos lyocel made wood pulp synthet fibr polyest polypropylen polyamid acryl produc thermoplast basi fibr extrud bundl cut stapl turn stapl fibr continu filament yarn unlik stapl fibr man made continu filament yarn produc product process plant show distinct perform characterist applic base principl cellulos synthet raw materi man made stapl fibr filament yarn extrud singl continu filament wound bobbin kilometr long qualiti criteria raw materi extrus significantli higher uneven impur exclud product quantiti significantli lower stapl fibr sector filament yarn expens stapl fibr major applic viscos filament yarn instanc reinforc car tyre strength spun viscos stapl fibr insuffici commiss practic previou decis commiss found stapl fibr continu filament yarn belong product market distinct contest notifi parti horizont overlap parti filament yarn sector acordi group activ product man made cellulos synthet type filament yarn distinct area applic type fibr fundament distinct previou commiss decis fibr sector made area applic commiss found fibr textil applic industri applic floor cover carpet belong distinct product market market commiss found fibr distinguish fibr fibr basi approach reflect code aid synthet fibr industri product market definit suggest parti parti relev product market compris man made cellulos stapl fibr man made cellulos synthet natur stapl fibr argu high degre substitut fibr cotton viscos polyest methodolog commiss carri depth market investig involv direct custom parti downstream custom parti competitor receiv submiss respond direct custom parti market investig enabl commiss carri demand side suppli side analysi relev issu distinct made distinct man made cellulos stapl fibr viscos lyocel synthet stapl fibr polyest polypropylen natur fibr cotton distinct type man made cellulos stapl fibr viscos lyocel distinct applic line custom group commiss evalu extens inform parti sale volum price charg year carri analysi price correl elast fibr notifi parti closest substitut man made cellulos stapl fibr cotton polyest polypropylen limit degre woven area commiss reason relat definit relev product market focu substitut fibr viscos stapl fibr lyocel stapl fibr substitut viscos stapl fibr lyocel stapl fibr parti submiss custom repli rate repli parti submit repli rate commiss market investig fall short content file necessarili unrepres wider market reaction commiss consid argument maintain result market investig provid reliabl factual basi assess notifi oper repli rate parti custom eea crucial assess effect notifi oper european market absolut number percentag parti volum sale note commiss market investig involv small larg custom segment parti relev busi result regard repres lower repli rate custom locat eea downstream custom inclus market investig complementari charact affect repres commiss investig methodolog appli ssnip test supplementari letter notifi parti claim fundament error commiss methodolog appli ssnip test commiss approach question phase ii questionnair custom flaw notifi parti result hypothet test subject inevit arbitrari unreli notifi parti argu commiss question parti custom fail make clear price increas fibr rel price fibr fail timefram switch place notifi parti timefram year submit questionnair includ option relat reduct volum viscos lyocel base product final notifi parti submit commiss ask empir data extent custom past reduc viscos lyocel consumpt respons transitori rel price differenti viscos lyocel fibr commiss consid argument maintain market investig question address parti custom phase ii investig reliabl object basi definit relev product market competit assess notifi oper applic ssnip test case line consist commiss practic note ssnip test definit hypothet natur gener presuppos transitori price increas exclud test transitori price fluctuat commiss questionnair explicitli refer quot perman quot price increas indic concret timefram switch arbitrari parti fail state reason timefram quot year quot switch opinion contest question parti custom made clear underli hypothet price increas viscos stapl fibr lyocel context exist altern fibr commiss explicitli ask custom quot type fibr quot quot switch vsf lyocel type fibr quot clear forego commiss market investig refer hypothet rel price differ viscos stapl fibr lyocel type fibr note question refer price increas respect vsf lyocel make clear refer fibr price suppos static contrari notifi parti submiss commiss questionnair includ question relat reduct volum viscos lyocel base product custom ask behaviour event price increas reduc vsf lyocel consumpt case final commiss note assess base prospect analysi hypothet futur switch fibr empir data market movement past commiss price correl analysi recit seq aim establish pattern substitut past base empir data provid parti note parti object applic past data statist techniqu correl discuss section inconsist insist supplementari letter data past practic analys order correl data repli final parti express view commiss overemphasis correl data actual switch exampl statement object commiss consid argument share parti view comment recit correl data issu switch fibr basic distinct viscos stapl fibr lyocel stapl fibr cotton polyest polypropylen market investig reveal basic distinct viscos stapl fibr lyocel stapl fibr cotton polyest polypropylen made demand side substitut product regard substitut direct custom realist ration possibl react small signific transitori increas price product switch product short period time product reason altern econom technic term acknowledg type fibr limit degre interchang demand side substitut man made cellulos fibr fibr main type cellulos fibr viscos lyocel suffici conclud belong product market find confirm result market investig viscos stapl fibr distinct product characterist viscos stapl fibr hereinaft quot vsf quot product show specif characterist distinguish fibr context market investig carri commiss high number custom point characterist prime featur vsf high moistur absorb combin high liquid retent capac absorpt capac fibr regard close substitut notifi parti cotton polyest polypropylen featur make vsf elig wide varieti applic textil area due result wear comfort woven area household applic medic hygien applic person care product industri applic filter insid support materi artifici leather featur distinguish vsf polyest polypropylen biodegrad relev factor area dispos woven applic compar cotton vsf soft drape relev textil area vsf dye characterist distinguish area textil woven applic cotton polyest hand vsf distinct product characterist limit area applic instanc vsf high wet elong low wet tenac render unsuit machin wash pure state facilit good process vsf popular materi blend cotton polyest make respect advantag minimis disadvantag individu fibr indic vsf distinct take account vsf expens fibr vsf provid ad product chosen higher price inflex demand market investig carri commiss reveal insuffici demand side substitut vsf fibresfor includ relev market major custom interview state posit replac vsf product repli custom ceas manufactur product concern vast major custom simpli chang event increas price vsf common reason switch specif product characterist vsf requir set downstream custom repli parti submit major custom reduc volum respons small transitori increas price reaction depend market condit state switch reduc volum parti argu greater weight actual evid switch commiss consid argument maintain initi conclus drawn result market investig note parti methodolog comput figur inconsist distinguish repli commiss phase questionnair phase ii questionnair inevit doubl count answer custom respond questionnair addit question address custom phase phase ii substanti jointli evalu repli state percentag absolut number precis refer commiss file commiss posit verifi figur commiss reli parti figur assess notifi oper point analysi switch volum cite recit evid actual full partial switch refer parti commiss deni custom switch fibr note isol exampl repres gener reaction market reveal commiss market investig base anonymis summari custom expect switch behaviour event small perman price increas commiss weight custom respons market investig custom individu quantiti fibr purchas year result analysi effect vsf price increas fibr sale parti custom remain term loss sale due custom switch fulli confirm commiss view insuffici demand side substitut vsf fibresfor includ relev market letter notifi parti argu commiss fail includ switch effect custom reduc stop product vsf lyocel base product event price increas vsf lyocel commiss consid argument maintain custom repli stop reduc vsf base product belong categori switch fibr whilst custom switch theoret indic wider product market switch extent high make price increas unprofit custom repli stop reduc product indic opposit term product market definit custom natur respons heavili depend specif type fibr switch event signific transitori price increas long term short term consumpt trend notifi parti point long term trend stapl fibr consumpt show instanc declin vsf consumpt peak compar phenomenon steep rise polyest consumpt rise consumpt synthet fibr polypropylen commiss note declin vsf consumpt event slow significantli europ prove vsf substitut type stapl fibr contrari vsf abil find area applic boom woven sector view indic distinct insuffici substitut fibr vsf gener higher price fibr complet interchang fibr replac replac fibr driven major technolog develop indic gener suffici substitut fibr evid woven industri instanc vsf babi diaper coverstock stop due import modif product manufactur multilay diaper develop superabsorb polym textil industri spin finish technolog develop synthet cellulos materi major influenc fibr consumpt fibr substanti alter product indic exist common product market type fibr repli parti deni occurr major develop spin finish technolog recent year commiss consid submiss maintain major technolog develop cellulos fibr sector occur past occur futur import influenc fibr process fibr consumpt refer parti product develop fibril lyocel fibr cooper spinner dyer lyocel treatment qualiti fibr equal suitabl oe rotor spin absenc major technolog develop fibr substanti alter product indic exist common product market type fibr parti argu repli woven applic vsf subject quot boom bust quot cycl compet supplier custom identifi cheaper altern fibr end suffici larg invest technolog develop lead viscos supplant parti evid viscos vulner woven sector commiss contrast take view argument repli counter analysi main point disagr parti interpret chang pattern fibr due technolog chang respect commiss maintain effect medium long term indic vsf fibr belong product market technic enabl cheaper altern fibr natur characteris uncertainti impact felt medium long term current vsf custom strong activ pursu strategi promot technolog product develop order cheaper altern fibr switch option technolog develop occur commiss market investig reveal major shift commod vsf expect short term due current forese impend technolog develop similar consider relat technolog develop valid respect fashion obviou differ fashion unlik technolog develop account short cycl consumpt pattern type blend fibr product specif kind garment chang year year depend fashion trend type blend fibr suffici substitut event chang fashion product made consid fashion worth bui commiss market investig signific number textil custom respons fashion signific impact consumpt vsf repli parti argu commiss assess account quot monei competit quot fibr parti submit fashion transient commiss consid argument maintain analysi firstli worth note parti acknowledg custom quot assess price differenti garment basket price aesthet function brand style quot choic garment confirm commiss view choic fibr primarili depend price consider commiss agre parti view essenti transient charact fashion consid fact confirm analysi limit substitut fibr moment conclud choic vsf custom primarili depend price consider specif product characterist vsf product innov consum prefer point time substitut consid suffici make potenti price increas unprofit hypothet monopolist lyocel parti view specif market lyocel exist argu lyocel product proper market regard substitut fibr vsf cotton polyest view confirm result market investig price correl analysi carri commiss contrari lyocel stapl fibr hereinaft quot lyocel quot show specif product characterist distinguish vsf product characterist high tenac wet dry state low shrinkag water minimis finish loss shrinkag launder lyocel blend fibr connect fibr viscos linen cotton polyamid polyest properti primarili exploit produc brand qualiti textil lyocel price higher fibr consid luxuri jean promin applic lyocel vsf consid unsuit similarli textil applic serv illustr distinct lyocel cotton significantli higher price lyocel instanc type jean add specif touch drape product lyocel dry tenac water retent superior cotton compar synthet fibr cellulos charact lyocel high moistur absorb lead textil applic high wear comfort match synthet lyocel biodegrad common cellulos natur fibr distinguish synthet fibr mention substitut biodegrad relev factor dispos woven mention respons commiss market investig final lyocel characterist share convent fibr tendenc fibril hand tendenc constitut disadvantag requir special spin dye techniqu contribut effect quot grei quot repeat wash hand fibril charact lyocel fibr exploit creat uniqu fabric except drape soft touch quot peach skin effect quot fibr produc effect compar extent repli parti submit commiss statement object complet ignor cotton lyocel main compet fibr parti argu commiss commit factual error state fibr unabl replic lyocel specif characterist tendenc fibril refer custom call note acordi provid sampl fabric commiss consid argument maintain analysi note competit relationship lyocel fibr lyocel cotton main subject commiss market investig price correl analysi recit commiss note exampl switch custom set parti appendix repli repres custom respons market investig whilst commiss deni switch occur degre exampl switch suffici lyocel includ wider product market compris type fibr recit market investig carri commiss confirm suffici demand side substitut lyocel fibr includ relev market vast major custom interview state posit replac lyocel product repli custom ceas manufactur product concern vast major custom simpli chang event increas price lyocel common reason switch specif product characterist lyocel requir set downstream custom repli parti argu commiss subject interpret reaction direct lyocel custom parti submit percentag direct lyocel custom state switch amount commiss consid argument maintain initi conclus drawn result market investig note parti methodolog comput figur inconsist distinguish repli commiss phase questionnair phase ii questionnair inevit doubl count answer custom respond questionnair addit question address custom phase phase ii substanti jointli evalu parti misinterpret custom respons commiss file includ analysi commiss reli figur assess notifi oper final evid actual full partial switch refer parti commiss deni custom switch fibr note isol exampl repres gener reaction market reveal commiss market investig base anonymis summari custom expect switch behaviour event small perman price increas commiss weight custom respons market investig custom individu quantiti fibr purchas year result analysi effect lyocel price increas fibr sale parti custom custom eea custom insid eea term loss sale due custom switch loss sale due switch consid suffici make price increas unprofit true current situat overcapac account parti adopt strategi close quot mothbal quot entir plant individu product line reduc fix cost event variabl cost save product cut cost save increas revenu due higher price compens loss revenu due switch product cut profit case price rais suppli side substitut suppli side substitut synthet fibr man made cellulos fibr made raw materi product process plant likewis suppli side substitut lyocel vsf viscos lyocel stapl fibr man made cellulos fibr lyocel produc separ plant product process solvent spin process fibr form directli dissolv wood pulp organ solvent viscos undergo chemic process slurri xanthat contrast lyocel process involv format deriv dissolv xanthat dilut caustic soda extrud spinnerett special equip machineri requir produc lyocel product technolog highli capit intens result lyocel man made cellulos stapl fibr highest cost product hand product lyocel environment benign compar product viscos solvent dissolv cellulos nmmo water lyocel product process recycl larg extent view competitor contest notifi parti switch product vsf lyocel amount build plant feasibl signific cost consider delai price correl analysi cross price elast defin relev product market commiss take account quantit evid capabl withstand rigor scrutini purpos establish pattern substitut past present case commiss carri analysi price correl cross price elast vsf potenti substitut base monthli sale data suppli parti notifi concentr data examin cover year period januari result commiss analysi support find separ product market price correl analysi vsf type fibr price correl analysi design measur sensit price product price alleg substitut present case aim analysi measur degre competit pressur exist vsf type fibr result reveal vsf textil woven applic suffici correl cotton polyest polypropylen product includ relev market measur quantifi depend time seri price degre substitut product call correl coeffici definit posit correl coeffici li higher degre correl product closer correl coeffici exist combin product market includ data tabl show signific price correl vsf cotton vsf polyest vsf polypropylen highest coeffici express correl vsf polyest high justifi assumpt combin product market tabl result vsf price correl analysi carri commiss gt tabl gt analysi cross price elast vsf type fibr find definit relev product market support analysi cross price elast cross price elast measur chang demand product result chang price product provid inform degre product substitut demand side perspect present case aim analysi measur chang demand vsf result chang price cotton polyest polypropylen result show past price fluctuat cotton polyest polypropylen led signific chang demand vsf equal indic exist separ product market vsf higher degre elast product bigger coeffici exist combin product market includ gener term cross price elast mean product effect substitut shown tabl cross price elast vsf hand cotton polyest polypropylen hand close product consid substitut vsf tabl vsf cross price elast calcul commiss gt tabl gt price correl analysi vsf lyocel correl coeffici vsf lyocel low irrespect lyocel textil lyocel woven segment submarket examin segment submarket vsf examin correl lyocel vsf low amount similarli analysi correl lyocel polyest lyocel cotton lead coeffici valu equal indic exist separ product market parti repli repli parti argu commiss overemphasis import reliabl correl analysi fulli investig actual exampl switch commiss consid argument find convinc econometr statist test line consist commiss practic laid notic definit relev market commiss product market definit present case reli primarili analysi price correl cross price elast explain recit result analysi found support find separ product market base consider demand side suppli side substitut lack suffici number exampl switch recit conclus reason commiss conclud vsf lyocel belong product market belong stapl fibr product market includ cotton polyest polypropylen addit vsf lyocel relev product market field viscos stapl fibr commod special market investig reveal field vsf subdivis account relev product market distinguish due fibr properti applic distinguish commod vsf special spun dy vsf vsf tampon commod viscos stapl fibr demand side main custom group commod viscos stapl fibr hereinaft quot commod vsf quot textil applic spin woven applic fibr textil applic purchas spinner fibr woven applic gener sold roll good manufactur demand side perspect commiss market investig reveal differ custom group fibr textil applic physic extent fibr woven applic due specif requir downstream product process textil custom except circumst fibr made woven applic vice versa commod vsf textil applic aesthet reason suppli bright qualiti vsf woven applic sold dull qualiti suffici suppli side substitut result commiss market investig point suffici degre suppli side substitut type vsf includ relev market fibr textil woven applic made product line produc commod vsf activ eea produc fibr type applic easili switch commod vsf textil woven applic signific cost risk adapt time conclus demand side differ point exist market segment commiss relev product market narrow market commod vsf spun dy viscos stapl fibr whilst commod vsf sold bleach raw white state specif spun dy vsf dy dissolv bath fibr form press dope spinnerett notifi parti claim spun dy vsf substitut raw white commod vsf dy stage product process commiss market investig confirm view contrari result investig suggest distinct commod vsf spun dy vsf low level demand side substitut demand side perspect note vast major custom respond commiss questionnair spun dy fibr deni switch raw white commod vsf event small perman price increas spun dy vsf reluct switch custom purchas spun dy vsf base price qualiti consider custom interview commiss state compar fibr dy downstream product process spun dy vsf superior colourfast expos sunlight light fast addit custom mention invest dye fibr downstream product process consider point applic spun dy vsf absolut colour household wipe kind fanci yarn bicolour yarn larg number custom respond commiss questionnair point price consider hand averag price level spun dy vsf higher colour commod vsf textil woven applic product spun dy vsf labour intens requir specif clean switch colour hand spun dy vsf view costli commod vsf dy downstream product process event hypothet price increas spun dy vsf repli parti argu post dye adjust price differenti spun dy dy ecru fibr lower refer commiss parti claim valu commiss consid submiss maintain signific price differenti spun dy fibr ecru commod fibr consider dyestuff cost discrep parti figur repli commiss figur statement object explain fact parti deduct higher wage wast cost spun dy fibr point made commiss base suppli side cost structur product demand side percept custom dye fibr downstream costli question parti repli low level suppli side substitut addit suppli side barrier switch european supplier produc spun dy fibr small perman price increas spun dy vsf suffici incent switch product spun dy vsf extra invest special technolog mixtur test inject dyestuff treatment dry competitor state case product spun dy vsf characteris small seri econom feasibl case increas price price correl analysi evid exist separ market spun dy vsf provid commiss price correl analysi recit tabl conclus conclud commod vsf spun dy vsf constitut separ product market viscos stapl fibr tampon addit distinct commod spun dy vsf viscos stapl fibr tampon treat distinctli custom group fibr vsf tampon directli sold manufactur end product gener commod vsf textil woven applic sold intermedi produc spinner textil applic roll good manufactur woven applic distinct product characterist result market investig shown physic anti bacteriolog properti vsf tampon differ significantli type vsf due higher safeti qualiti regulatori requir produc guarante microbiolog puriti fibr higher consist absorpt capac liquid retent capac tampon produc unanim agre type vsf commod vsf textil woven applic spun dy vsf recit low level demand side substitut cotton whilst merg parti argu cotton substitut vsf product cotton tampon product tampon base blend cotton viscos commiss market investig support argument tampon produc unanim state vsf content product reduc limit extent affect qualiti product due superior absorpt liquid retent capac vsf product cotton tampon product discontinu qualiti reason event small perman price increas tampon manufactur increas cotton content product price vsf tampon increas custom margin reduc viscos content blend whilst custom modifi blend short medium term custom irrespect price develop reduc increas cotton content tampon barrier switch consid high tampon manufactur fibr tampon fulfil abovement qualiti requir regulatori authoris mandatori case switch time cost product loss incur risk qualiti insuffici equal signific state buyer tampon increasingli reluct regard genet modifi product includ genet modifi cotton scope replac vsf tampon cotton reduc conclud result commiss market investig vsf tampon belong product market cotton conclus confirm commiss price correl analysi recit tabl low level demand side substitut vsf fibr cotton wool wad parti concentr claim vsf made tampon substitut vsf cotton wool wad give tampon produc allegedli type vsf manufactur tampon cotton wool whilst vsf tampon product cotton wool wad person hygien product substitut invers sens prove suffici type fibr includ relev market contrari market investig reveal tampon produc fibr made cotton wool wad product tampon due product characterist stringent clinic microbiolog requir tampon fibr product cotton wool made cotton viscos belong product market vsf tampon low level suppli side substitut type viscos stapl fibr thirdli parti argu suffici degre suppli side substitut type vsf enabl vsf produc easili switch product vsf tampon view confirm market investig whilst switch feasibl parti european competitor produc amount vsf tampon remain european vsf produc produc vsf tampon switch product type fibr event perman price increas produc refer substanti invest switch necessit produc point commerci reason conclus commiss conclud vsf tampon constitut distinct product market viscos stapl fibr cotton wool wad person hygien product term cotton wool wad interchang distinctli sens quot cotton wool quot refer cotton wool person hygien product quot wad quot fill anorak sleep bag car seat vsf wad sens includ figur woven commod vsf suggest notifi parti left open vsf cotton wool person hygien product constitut separ product market belong larger market small size sector addit vsf cotton wool person hygien product commod vsf market make substanti differ competit assess commod vsf market total sale cotton wool person hygien product eea repres volum commod vsf market amp lt kilotonn notifi oper competit concern separ product market vsf cotton wool person hygien product defin parti combin market share market exce constitut affect market viscos stapl fibr special viscos tow lenz acordi produc vsf special substitut relev vsf product defin lenz modal high wet modulu textil fibr enhanc perform characterist textil area belong separ market acordi viscos tow produc type flock short cut wet laid tow belong distinct product market demand side product distinct properti custom percept suppli side consider product requir special product line produc switch viscos product support view definit product market left open lenz special fibr flame retard vsf quantiti produc signific inclus commod vsf product market product suppli side substitut chang assess notifi concentr appli number special produc acordi sold smaller quantiti defin separ market special constitut affect market overlap parti activ price correl analysi price correl analysi carri commiss support find relev product market field vsf tabl tabl result price correl analysi carri commiss product market field vsf coeffici base data provid parti gt tabl gt correl type vsf commod vsf spun dy vsf highest coeffici found commiss analysi reveal coeffici inflat due common cost extent common trend base data provid parti year averag amp gt cost spun dy vsf common cost commod vsf price seri product larg extent predetermin common cost cost amount amp gt net price product correl coeffici found due competit interact product common influenc correl commod vsf polyest concern coeffici remain level gener consid indic exist wider product market explain fals high correl price product subject common influenc case commiss analysi shown correl coeffici inflat due common trend competit interact product repli parti greater weight actual evid switch correl data parti point alleg inconsist weak commiss correl analysi point commiss find correl viscos polyest hp part statement object part statement object price correl analysi transact data period data inappropri transitori transitori price examin commiss consid argument find analysi price correl cross price elast carri case reliabl mean support find definit relev product market firstli gener critic commiss analys market definit point made explain recit commiss exclus reli analysi price correl cross price elast analys supplementari element support result market investig commiss high degre correl price seri suffici condit product belong market commiss correl indic degre competit market commiss agre parti correl analysi examin cautious consid inappropri high correl fals posit correl spuriou correl price product subject common input mean common cost common trend similarli correl inappropri low instanc due signific lag respons drawback kind avoid integr test unit root test test carri commiss present case commiss find inconsist result analysi emphasis test carri basi data provid parti gener term vsf price provid parti necessarili artifici price deriv aggreg price subseg vsf market result market investig made clear commiss separ market subseg vsf price sum vsf subseg price subseg multipli respect quantiti divid aggreg quantiti commiss found neglig level correl commod vsf polyest spun dy vsf vsf tampon polyest independ base price data likewis submit parti commiss verifi view fact vsf constitut separ product market fact commiss set price seri aggreg price seri vsf specif price data parti submarket vsf consid inconsist likewis inconsist correl aggreg price seri arithmet averag correl individu compon price seri compar higher level correl polyest hp commod vsf due common trend commiss find surpris common trend deflat vsf product subject common trend includ correl analysi final parti concern transact data period transitori transitori price point born mind note parti provid transact data cotton polyest polypropylen commiss request commiss take view sale data provid parti appropri reflect averag transact price polyest data provid reflect larg small custom consid signific measur actual transact order confirm period data commiss test correl analysi lag variat test result insignific parti concern transitori transitori price unit root test carri commiss duli cover aspect conclus reason commiss conclud commod vsf spun dy vsf vsf tampon constitut separ product market relev product market field lyocel left open lyocel market subdivid competit assess notifi oper chang recit relev product market lyocel product process technolog product process technolog lyocel stapl fibr lyocel filament yarn distinct fibr product process technolog viscos technolog includ environment compat establish readili technolog lyocel product young develop commerci applic characteris exist larg number patent whilst initi patent expir case relat product process treatment lyocel recit acordi lenz kei player market east asian compani german engin compani zimmer ag activ partli cooper research institut whilst undertak time involv lyocel product zimmer ag acordi lenz cross licens lyocel technolog cross licens agreement clear lenz acordi activ sublicensor sublicense market trade licens agreement substanti market includ technolog stapl fibr product process lyocel product extrud film membran filament technolog area link technolog lyocel stapl fibr product process patent common area area lyocel product process technolog belong product market lyocel filament technolog enter stage commerci product competit area place level product process technolog commiss market investig reveal demand lyocel technolog licenc repli parti argu market lyocel technolog sens signific licens lyocel technolog patent right highli unusu identifi separ market technolog contend parti activ sublicens zimmer ag signific supplier commiss consid argument maintain definit separ product market product process technolog lyocel includ stapl fibr filament yarn firstli note contrari parti repli definit separ market technologyi line consist commiss practic regard quot highli unusu quot commiss consid current activ area suffici form separ market appear signific degre demand potenti lyocel produc lyocel product process technolog parti provid seri exampl repli point zimmer ag market technolog year number licenc grant parti circumst licens grant quot wholli except quot purpos quot relat lyocel fibr product quot decis definit product market contrari fact licenc grant except circumst relat lyocel fibr product prove commiss view lyocel product process technolog hand lyocel fibr product hand inextric link deserv assess separ thirdli compani institut develop lyocel product process technolog time activ lyocel product state recit confirm parti repli german undertak zimmer ag activ develop sale lyocel technolog lyocel product research institut thüringisch institut für textil und kunststoff forschung titk fact player activ lyocel product area field lyocel product process technolog strongli milit favour exist separ technolog market commiss conclud technolog market lyocel product process distinct downstream market product sale lyocel conclus commiss conclud categori constitut relev product market account competit assess notifi oper commod viscos stapl fibr spun dy viscos stapl fibr viscos stapl fibr tampon lyocel lyocel product process technolog relev geograph market parti argu basi product market definit recit geograph scope market compris product market worldwid confirm outcom commiss market investig relev vsf product market lyocel viscos stapl fibr commod vsf spun dy vsf vsf tampon vsf import low roughli amp lt eea consumpt vsf import countri import level rise significantli past year market investig shown vast major parti repli commiss question vsf import eea countri qualiti reason explain qualiti product import parti locat eea differ significantli eea made fibr qualiti parti product respond felt satisfi custom demand product requir import vsf signific proport custom respond commiss questionnair knowledg eea vsf supplier respond question reliabl flexibl suppli eea produc viscos transport cost tariff due expir plai secondari role geograph barrier entri note import low fact price vsf made eea view higher price fibr made geograph area east main european produc viscos locat activ minor custom readi switch countri import state price decreas respond qualiti equal european american standard reluct european custom switch eea supplier vsf confirm submiss parti competitor estim import eea increas slightli event perman price increas eea repli parti argu commiss assess substanti underst import import competit commiss consid argument find convinc maintain analysi reason set recit consider fulli applic commod vsf valid spun dy vsf vsf tampon import spun dy vsf estim amp lt import barrier higher commod vsf rang prefer colour depend cultur qualit prefer custom qualiti colour asian countri main sourc potenti import differ european standard reliabl suppli qualiti import commod vsf sector instanc success deliveri fibr ident colour correspond specif custom vsf tampon import rate appear custom interview qualiti barrier asian import high commiss conclud relev product market vsf commod vsf spun dy vsf vsf tampon eea wide scope worldwid market investig reveal evid point exist nation region geograph market lyocel lyocel comparison pattern demand fluctuat insid eea parti sale organis suggest relev geograph market eea wide worldwid scope exact market definit left open case competit assess notifi oper chang geograph scope lyocel market recit lyocel product processingtechnolog market lyocel product process technolog consid worldwid scope commiss market investig reveal evid point exist nation region geograph market conclus reason set commiss consid market commod vsf spun dy vsf vsf tampon eea wide scope market lyocel product technolog worldwid lyocel market eea wide exact definit relev geograph market left open competit assess accord articl merger regul concentr creat strengthen domin posit result effect competit significantli imped common market substanti part declar incompat common market court justic defin concept domin posit econom strength enjoi undertak enabl prevent effect competit maintain relev market afford power behav appreci extent independ competitor custom ultim consum posit exclud exist competit enabl undertak profit determin appreci influenc condit competit develop case act larg disregard long conduct oper detriment exist domin posit deriv factor separ necessarili determin factor highli import exist larg market share addit relationship market share undertak involv concentr competitor largest relev evid exist domin posit factor account conclud notifi concentr creat strengthen domin posit market commod vsf spun dy vsf vsf tampon lyocel lyocel product technolog market viscos stapl fibr gener market condit notifi oper result creation global leader viscos stapl fibr market share approxim vsf sector worldwid sector eea entiti combin market share amount lenz acordi european competitor smaller säteri finland svenska rayon sweden sniac spain european capac histori plant closur europ industri histori sector past year characteris capac reduct plant closur whilst plant western europ close closur affect plant eastern europ capac reduct eea exclus confin eastern germani time lenz substanti increas capac plant closur east german produc exceed lenz capac increas threefold capac reduct eea amount year product capac european vsf produc oper plant eea tabl tabl vsf product capac eea kilotonn gt tabl gt sourc notifi parti acordi recent reduc capac close plant grimsbi uk hypothet capac kilotonn actual annual product kilotonn year lessen vsf product capac kilotonn lenz contrast plan capac increas kilotonn put effect juli lenz intend increas capac kilotonn notifi concentr elimin player vsf market significantli increas capac recent year parti inform commiss substanti build capac europ forese futur competitor capac increas quot de bottleneck quot programm total amount kilotonn mention achiev time period year market particip view plant capac kilotonn built middl eastern countri possibl affect lenz acordi export region commiss consid build capac countri locat close eea territori effect suppli situat eea reluct european custom bui product eea produc recit conclud suppli situat eea remain tight situat cyclic upsw demand case demand demand vsf western europ stabl tabl tabl vsf demand western europ kilotonn gt tabl gt sourc notifi parti period demand characteris consider shift textil woven applic eea whilst percentag vsf consumpt textil applic fell year woven applic account demand vsf demand textil applic declin subject consider irregular cyclic movement entail variat year whilst upsw cycl last cycl peak import note demand declin segment vsf textil applic woven vsf demand curv hand cyclic declin earli demand rise continu annual growth rate woven sector rise homogen whilst applic shoe leather stagnat boom medic applic vsf consumpt eea grew amp gt wipe increas amp gt period total growth vsf demand woven applic period gener expect current demand trend persist reduct vsf consumpt textil applic balanc increas consumpt woven applic textil consumpt remain cyclic trade countri export higher import estim kilotonn vsf export countri lowest amount year whilst kilotonn import eea kilotonn fact year characteris high capac utilis europ suit commerci launch import countri eea substanti part import stem lenz acordi subsidiari usa indonesia origin import data statist handbook intern rayon synthet fibr committe cirf trade organis european produc synthet man made cellulos fibr indic data refer cellulos stapl tow includ product vsf lyocel acet stapl tow vsf import equal quantiti cirf fraction cellulos stapl tow import east asian countri amp lt kilotonn largest asian export indonesia note lenz control spv indonesian vsf produc highest product capac import india birla grasim group world largest viscos produc locat amount mere amp lt kilotonn insignific amount taiwan world largest produc fcfc incorpor east asian produc posit export larger quantiti vsf eea european custom remain sceptic recit european competitor expect major increas import east asia price rise import sourc import usa amp lt kilotonn lenz acordi produc vsf eastern europ includ russia amp lt kilotonn note import eastern europ reliabl competit term qualiti competitor custom alik compani mention custom commiss market investig sourc suppli previou year czech compani spolana close vsf oper begin commiss market investig custom mention lenz acordi import year receiv quantiti serbian produc note custom qualiti vsf repli parti submit addit inform western european import vsf tow exclud cellulos fibr ad complet inform year commiss consid supplementari inform maintain previou analysi inform submit complement contradict inform cite recit reaffirm commiss conclus drawn therefrom addit data submit show import eastern europ western europ year capac shortag western europ rise slightli fell account amp lt western european demand import asia level asian import come indonesia remark intra group trade lenz plant indonesia recit import lenz acordi produc higher taiwan fcfc parti repli sourc import state amp lt total demand import india birla western european demand total increas import volum leav indonesia year suppli shortag constitut parti amp lt western european demand confirm commiss conclus low likelihood substanti increas import vsf western europ capac utilis inform provid commiss parti competitor capac utilis vsf industri high reach level close whilst plant acordi lenz run full capac rate capac utilis european competitor product site slightli lower pro forma capac utilis rate competitor context technic aspect viscos product lower theoret maximum capac due time technic mainten switch time product vsf variant indic de facto capac utilis close capac utilis lower half year capac utilis kei factor term profit viscos product involv complic chemic process necessit high number product step viscos product potenti pollut process requir high invest environment technolog region eea environment protect standard high case plant built exist plant enlarg invest product cost invest plant facil high notifi parti estim cost green field plant eea capac kilotonn kilotonn kilotonn year eur million includ cost pollut control invest exist plant increas product estim eur amp lt amp lt million addit capac kilotonn year cost quot de bottleneck quot cost replac part exist product line prevent product increas estim eur amp lt million percentag fix cost variabl cost depend larg extent factor depreci take account ag plant recent invest labour cost cost raw materi fix cost amount total product cost acordi european plant lenz percentag fix cost total cost higher lenz plant includ integr dissolv wood pulp plant make independ volatil dissolv wood pulp price lenz posit substanti differ acordi pulp cost price caustic soda expect rise product declin pvc product influenc variabl cost price carbondisulphid energi commod vsf market share commod vsf market account total vsf demand eea estim size commod vsf market kilotonn parti combin estim market share eea lenz acordi competitor market share säteri finland sniac spain svenska rayon sweden import approxim lenz high market share commiss market investig competit eea market commod vsf consider part competit take place lenz acordi parti strongest player closest competitor commod vsf market eea notifi concentr ahead competit elimin entiti act independ reason entiti control product capac ultim price notifi concentr elimin lenz european vsf manufactur rais product capac common trend capac reduct recit intern strategi paper present board cvc substanti merger entiti control substanti share total capac incent creat shortag suppli order price high strategi cost cut capac reduct complement mainten spare capac leav parti abil counter reaction competitor entrant high percentag custom answer expect price increas propos oper perpetu high price level past year merger ahead price expect signific number respond fall absenc merger note acquisit lenz plant open altern strateg option cvc complement abovement strategi state lenz european vsf manufactur rais product capac common trend capac reduct time low demand lenz act price breaker gain market share strategi sacrific margin volum reflect uniqu cost structur lenz busi lenz integr plant dissolv wood pulp product sensit variat cost wood pulp turn higher fix cost ratio vsf plant high fix cost busi volum critic price lenz increas sale volum lower margin cost competitor scenario expect plant capac lenz fulli utilis plant acordi kehlheim higher variabl cost ratio swing capac utilis entiti possess consider amount quot swing capac quot import commod vsf lenz indonesian subsidiari lenz plant lfc lowland tennesse intra group sale occur year substanti quantiti import lenz plant indonesian subsidiari whilst figur time lower note intra group sale continu indonesia entiti utilis plant capac full lenz lenz indonesian plant stage plant primari quot swing capac quot prove insuffici reduc suppli cycl low demand acordi kelheim higher variabl cost ratio lenz secondari quot swing capac quot product commod vsf entiti strateg option increas eea sale time order deter competitor complianc price sale strategi entiti strateg option reduc capac complement strategi shift product lenz plant possibl expand plant option deter competitor gain market share event downturn market entiti face downturn decid sale volum high reduc margin gain market share lenz strategi reduc sale volum price high competitor posit match encourag support repli parti argu commiss statement object mischaracteris econom incent entiti parti state viscos stapl produc oper high capac utilis rate cover fix cost cvc intent repli increas capac lenz acordi kelheim fulli commiss consid argument find convinc maintain analysi actual intent entiti reduc increas product capac decis competit assess case count commiss view mere fact entiti econom power implement strateg option demonstr abil act independ competitor custom parti argument vsf produc choic utilis fulli capac plant cover fix cost commiss note vsf demand textil applic characteris strong cyclic variat recit situat cyclic demand downturn overcapac aris inevit parti repeatedli express opinion expect long term demand reduct western europ equal lead overcapac situat power reduc product order price high time signal effect competitor event profit counter competitor recit constitut import element parti abil act independ competitor custom commiss maintain scenario entiti possibl act independ competitor custom reason competitor act quot price taker quot market investig reveal competitor limit possibl increas capac year total roughli equal lenz capac increas year recit tabl plan put effect total capac increas roughli match slightli overcompens capac reduct brought acordi closur grimsbi uk plant competitor hope export intens nafta area acordi close plant extra capac absorb capac vacuum creat acordi usa effect europ addit basi result market investig intent acordi lenz european competitor focu commod market smaller competitor instanc capabl provid rang commod vsf product margin serv woollen spin segment footnot unabl serv hygien medic applic end woven small sale textil segment acknowledg compet acordi lenz field custom cotton spin segment commod vsf market express concern qualiti competitor product event capac reduct entiti competitor tend gain quot windfal quot market share initi support challeng high price strategi entiti act quot price taker quot limit amount spare capac permit compet profit market share contrast incent benefit higher price market entri reason outlin recit entri market commod vsf capit intens expect happen eea short medium term opinion express competitor notifi parti alik substanti increas import estim import commod vsf countri amount amp lt part import lenz acordi subsidiari usa indonesia actual parti import rate lower recit substanti increas import parti commiss market investig reveal strong reluct part eea custom bui viscos eea produc recit parti competitor expect significantli higher import contrast parti posit deter countri competitor enter eea market addit asian capac forecast remain flat decreas longer run competit constraint deriv import consid suffici outweigh strength entiti insuffici competit constraint inter fibr competit fact identifi distinct product market degre substitut fibr belong neighbour product market event entiti impos signific price increas commod vsf expect purchas extent switch fibr perform aesthet characterist argu notifi parti competit strength entiti suffici constrain effect quot inter fibr competit quot field applic vsf fibr substitut overlap overlap occur regard polyest fibr signific textil woven area note commod vsf textil woven area pure form blend market investig shown event price increas vsf custom reduc vsf consumpt applic sector activ whilst major repli reduc vsf consumpt reduc view indic insuffici constraint fibr sale rel price confirm angl paper present european trade organis cirf entitl quot myth realiti interfibr competit quot document conclus quot competit base rel price signific leastinexcess cent price fibr vi vi competit fibr quot commiss limit potenti switch custom suffici conclud entiti abil act independ significantli constrain explain recit entiti posit adjust eea product sale commod vsf effect profit competitor affect forese loss sale volum event price increas commod vsf competitor difficulti compet market share shrink market economi scale import commod vsf market entiti market player capabl control process price power decid benefici moment busi adapt shrinkag market volum final notifi parti posit serv segment commod vsf market price discrimin custom individu easili identifi segment cotton type spinner woollen type spinner roll good manufactur specialis product medic hygien applic serv segment market individu custom competitor challeng entiti price strategi deter threat retali specif segment commod market higher margin special market state retali entiti dispos unrival rang product vsf market higher technolog product innov potenti insuffici competit constraint downstream import finish vsf product notifi parti argu threat increas downstream import finish vsf product yarn fabric garment effect constrain entiti competit behaviour note fabric made viscos viscos blend concern eea enjoi trade surplu consider neg trade balanc garment net import garment eea consumpt notwithstand neg trade balanc viscos pure blend spun yarn net import amount eea yarn consumpt conclud figur vsf vsf fabric import european textil industri process restructur necessarili alleg trend declin european textil industri assum continu ongo shift textil woven applic refer recit likelihood reduc demand textil commod vsf eea shift effect reduc parti exposur risk downstream import textil product risk exist lesser extent woven good repli parti argu commiss overst signific eea trade surplu viscos fibr fabric level commiss consid argument maintain conclus vsf vsf product plai import role european textil industri note parti repli disprov conclus parti calcul omit trade vsf countri disprov underli fact eea net trade deficit finish vsf product significantli lower net trade deficit product made cotton polyest similar observ inter fibr competit made context explain recit loss sale volum commod vsf affect entiti lesser extent produc endang lead posit market commod vsf reason competit advantag infer entiti presenc geograph market subsidiari countri east lenz subsidiari indonesia nafta countri lenz plant usa extent financi benefit exit downstream industri eea market whilst entiti time maintain domin profit shrink commod vsf market eea insuffici competit constraint downstream inter fibr competit repli parti argu statement object consist fail give weight competit constraint downstream competit fibr supplier western europ find crucial note downstream custom repli suggest major concern interest transact letter notifi parti claim failur part commiss give due weight effect downstream competit parti behaviour manifest failur includ switch effect custom repli reduc stop product event increas price vsf reduct volum purchas notifi parti direct effect parti profit incent rais price switch custom volum fibr commiss consid argument find convinc commiss recal consid competit constraint supplier locat western europ insignific recit downstream inter fibr competit account relev competit constraint competitor direct custom posit estim effect downstream custom give indic size effect commiss analysi cross price elast recit implicitli take account histor downstream inter fibr competit commiss phase questionnair explicitli ask parti custom custom switch fibr event small transitori price increas repli vsf sale volum affect switch event thirdli evalu respons custom state stop reduc product vsf base product event small signific transitori increas price commiss deni behaviour custom competit constraint hypothet domin player market custom stop reduc product vsf base product account anticip downstream demand reduct due price increas commiss ask custom phase ii questionnair stop product result survei parti commod vsf sale volum affect event price increas commiss consid impact insuffici effect constrain futur behaviour domin player commod vsf final lower repli rate downstream custom commiss questionnair necessarili permit conclus respond major concern notifi oper assum parti competit posit effect constrain downstream interfibr competit note downstream custom lesser degre affect parti direct custom price increas cellulos stapl fibr effect price increas dilut downstream fibr piec apparel estim hypothet price increas competit constraint effect result larg price rel order cent insuffici competit constraint countervail bui power final parti argu market power entiti effect constrain countervail bui power base result market investig commiss share point view commod vsf market characteris signific number small medium size custom spinner roll good manufactur unabl exercis signific bui power born mind qualiti product requir reliabl suppli import custom recit circumst disappear lead independ supplier high qualiti vsf eea significantli limit custom choic switch quot unknown quot supplier entail signific commerci risk due product loss thirdli long term busi relationship common sector rais barrier custom potenti switch supplier final situat potenti shortag suppli recit fact custom gener oper short lead time hold limit stock limit exercis bui power respons parti commiss questionnair confirm conclus parti custom state bui posit significantli deterior merger whilst roughli third regard current bargain power balanc custom expect weak notifi oper ahead conclus commod vsf notifi oper elimin acordi strongest competitor eea leav smaller perform competitor entiti act independ competitor custom reason set commiss reach conclus propos oper creat domin posit entiti market commod vsf eea result effect competit significantli imped common market eea spun dy vsf market size market share spun dy vsf repres amp lt total vsf sale volum combin eea market share acordi lenz higher product market amount lenz acordi sniac lenz high market share evid degre competit eea market spun dy vsf profit margin low custom regard current purchas power balanc competit take place primarili parti longer exist notifi concentr ahead entiti act independ reason competitor market entri sniac remain european competitor spun dy sector account market offer limit rang colour expand econom reason requir substanti invest limit output due time loss switch remain european vsf produc produc spun dy vsf interest enter market reason economi scale event price increas rang market investig shown import amp lt rise market commod vsf market czech produc spolana close begin russian produc reliabl custom indian birla grasim group produc qualiti full rang colour satisfi eea custom product design serv indian market produc worldwid fcfc taiwan likewis expect export eea repli parti state birla offer exact duplic acordi colour card produc kelheim commiss consid argument maintain initi view confirm birla shade tone colour rang lustr prefer european market birla domest market product spun dy vsf india birla reli domest pulp domest pigment domest pigment meet specif colour rang lustr set domest market meet requir eea market birla pigment compani india technic point view birla think produc spun dy vsf similar requir european market import pigment birla reemphasis product small lot necess quick deliveri desir european custom enabl meet requir fashion driven fluctuat market practic birla birla statement line custom respons commiss market investig commiss birla effect actual potenti competitor eea market spun dy vsf inflex demand market investig shown switch product commod vsf dy downstream product process occur signific extent spun dy fibr perceiv cheaper superior qualiti regard colourfast vsf dy downstream spun dy fibr custom function requir applic bicolour yarn colour wipe combin effect switch reduc stop product result commiss phase ii market investig effect consid high put suffici constraint parti domin firm market decid rais price incur loss sale time increas profit remain product conclus spun dy vsf notifi oper elimin acordi strongest competitor eea leav smaller perform competitor entiti act independ competitor custom reason set commiss reach conclus propos oper creat domin posit entiti eea market spun dy vsf result effect competit significantli imped common market eea viscos stapl fibr tampon market size market share domin acordi eea market vsf tampon repres amp lt sale vsf parti combin market share eea amount acordi lenz competitor svenska rayon account remain amp lt european vsf produc säteri sniac produc vsf tampon technic econom reason intend futur realist probabl import market structur acordi consid domin vsf market tampon achiev highest market share manufactur market highest qualiti fibr tampon call quot galaxi quot protect patent right notifi concentr elimin lenz acordi current competitor strengthen entiti abil act independ reason insuffici competit constraint potenti market entri remain competitor svenska rayon remain produc vsf tampon eea small compani limit capac svenska rayon concentr special capabl limit capac increas effect compet acordi lenz small regard viabl altern entiti major custom concern rais custom econom stabil svenska rayon compani innov compani foreign entri market import east highli eastern produc gener produc commod vsf textil applic expertis woven applic hygien sensit applic vsf tampon custom vsf tampon sourc fibr eea supplier locat eea custom switch supplier insuffici competit constraint countervail bui power parti argu competit behaviour suffici constrain high bui power custom abil custom pursu dual sourc strategi high percentag parti turnov vsf tampon gener big custom note custom pursu dual sourc strategi notifi oper significantli reduc custom possibl pursu strategi merger make lenz acordi strongest competitor disappear explain svenska rayon consid suffici altern sourc suppli recit final switch supplier short run custom adapt machin rigor qualif process supplier product undergo find confirm view custom vast major express strong concern regard propos takeov lenz whilst regard current bargain power balanc vast major expect weak notifi oper ahead price level vsf tampon acordi special fibr galaxi standard fibr tampon price level commod vsf price differenti custom suffici countervail buyer power repli parti argu statement object wholli ignor comment made tampon manufactur tend support scope inter fibr substitut exercis countervail power tampon segment commiss underplai extent countervail power point process move tampon custom acordi plant mobil alabama kelheim germani month show commiss view imposs switch supplier short run incorrect final parti refer abil tampon manufactur quot disciplin quot viscos supplier rang product commiss consid argument maintain analysi passag parti submiss cite parti repli conclus repli explicitli refer remark relev quot longer term quot custom repli cite parti whilst refer possibl reduct vsf consumpt month point chang entail product ineffici refer product characterist fibr technic difficulti adapt product process time cost adapt product process reason switch suffici degre offset vsf price increas final produc posit merger weak tampon manufactur respons commiss questionnair phase cite repli note custom view switch high switch cost econom feasibl custom switch vsf fibr case small transitori increas vsf price whilst correct custom mention substitut vsf consumpt lyocel competit constraint parti produc lyocel worldwid custom mention switch month due health regulatori safeti requir custom quot parti repli mention whilst quot theoret quot switch fibr blend compani decid move altern vsf provid perform custom view posit compani merger strong custom see quot weaker quot see strong merger consid quot balanc quot opinion express repli fulli support commiss analysi passag cite tampon manufactur repli phase ii equal inconclus whilst event perman price increas vsf manufactur switch fibr produc ad develop time requir month switch cost signific resourc due capit invest trial qualif loss product make highli possibl switch exert suffici competit pressur parti similarli fact custom expect limit price increas propos oper expect express custom combin entiti econom sound counter commiss analysi expect limit price increas expect econom sound entiti result merger rule parti abil behav independ custom competitor merger equal commiss regard transfer custom acordi site mobil alabama kelheim germani suffici evid conclud barrier switch vsf supplier insignific recit custom receiv viscos fibr acordi plant german product site suppli provid produc whilst surpris note big tampon manufactur insuffici bui power effect constrain independ competit behaviour merg entiti consid compani larg extent quot lock quot high switch cost big tampon manufactur belong industri group time bigger viscos produc choic sourc suppli merg entiti biggest textil woven commod custom sourc quantiti compar bigger purchas tampon manufactur effect depend tampon manufactur tampon manufactur argument valid smaller privat label tampon manufactur final tampon manufactur quot disciplin power rang product quot accept suffici competit constraint tampon manufactur bui vsf product tampon babi wipe product bui vsf roll good roll good manufactur roll good manufactur bui commod vsf vsf produc tampon manufactur limit possibl influenc roll good manufactur bui decis vi vi parti insuffici competit constraint inter fibr competit competit constraint neighbour product market inter fibr competit cotton consid suffici outweigh strong posit entiti enjoi cotton exclud biggest tampon manufactur view caus extrem high switch cost constrain effect exercis custom switch custom stop product reduc volum tampon vsf consumpt similarli low event sustain price increas conclus vsf tampon notifi oper elimin acordi strongest competitor eea leav suffici altern custom enhanc acordi exist abil act independ competitor custom reason set commiss reach conclus propos oper strengthen acordi domin posit vsf market tampon eea result effect competit significantli imped common market eea conclus vsf reason set commiss reach conclus propos oper creat domin posit entiti eea market commod vsf spun dy vsf strengthen acordi domin posit vsf market tampon eea result effect competit significantli imped common market eea commiss note relev product market contrari commiss market definit recit includ viscos stapl fibr notifi oper elimin acordi strongest competitor eea creat compani eea wide market share recit leav smaller perform competitor market condit vsf market compar gener market condit vsf sector recit commod vsf market recit constitut total vsf sale eea reason commod vsf market appli concentr creat domin posit entiti result effect competit significantli imped common market eea lyocel market share lenz acordi produc lyocel worldwid lenz market share amp lt acordi brand lyocel product quot tencel quot account amp gt total lyocel sale eea differ parti market share smaller elimin acordi competitor date acordi lenz compet lyocel market eea lenz charg significantli lower lyocel price acordi notifi oper creat worldwid monopoli lyocel market elimin exist competit parti entiti act independ reason market entri expect futur whilst parti predict market entri chines korean produc market entri produc stage market investig conduct commiss reveal market entri parti expect short run contrari potenti market entrant respond commiss questionnair state year oper effect compet parti lyocel market lenz acordi argu technolog patent constitut obstacl market entri intellectu properti right difficult enforc opinion strongli contest parti interest enter market commiss investig reveal exist consider technolog barrier market entri parti hold signific number patent right lyocel product technolog recit repli parti argu commiss statement object underestim likelihood entri put forward list potenti market entrant base repli competitor commiss questionnair commiss consid argument find convinc potenti market entrant name parti realiti research institut involv develop lyocel product process technolog circumst regard potenti produc lyocel fibr parti repli time realist expect parti enter market market entri indian birla grasim group foreseen quot year quot repli omit time frame put question quot nonavail critic equip account patent restrict design lenz acordi requir effort longer time quot potenti market entri face threat patent litig acordi lenz recit refer made market entri chines compani repli fail reveal confirm result market investig commiss enter contact compani market investig order confirm potenti market entrant futur strategi hanil korea confirm commiss extent activ plan activ lyocel fibr market base exclus vagu submiss parti probabl market entri futur suffici great commiss conclud signific competit constraint exercis parti short run circumst potenti competit consid sourc suffici competit constraint parti capabl outweigh effect notifi oper incent rais price market investig reveal lyocel market characteris overcapac incent entiti reduc lyocel product order achiev higher price integr lenz acordi strategi base high price brand product tencel high invest lyocel technolog recoup note major custom expect lyocel price rise remain stabl event merger acordi lenz expect price fall absenc merger whilst custom regard current bargain power balanc overwhelm major expect weak notifi oper ahead argument parti repli repli parti argu competit assess concern commiss assess lyocel ignor wider market context underestim extent lyocel jeopardi put forward statement object fail account competit constraint result downstream custom abil switch fibr parti product made fibr complet interchang downstream custom letter notifi parti state commiss data show event increas price lyocel lyocel sale volum lost result custom switch fibr volum lost result custom reduc switch includ switch effect increas commiss consid argument find parti reason contradictori hand repli point lyocel industri face major difficulti find market sale decreas acordi lenz face major financi problem respect lyocel busi hand market entri parti expect parti futur suggest lyocel attract market profit made distinct switch fibr hand stop product reduc volum lyocel consumpt hand commiss point argument set recit point discuss recit compar lack signific product loss percentag price increas lyocel outlin larger product loss price increas profit accompani plant closur equal appli sale loss sale loss issu downstream custom switch commiss final note phase questionnair explicitli ask custom custom switch fibr event small transitori price increas repli lyocel sale volum affect switch case whilst result phase questionnair sight contradict questionnair phase ii result discuss recit switch recit switch stop reduc product note phase custom repres higher number sale eea repli phase ii make phase result reliabl commiss refer argument downstream interfibr competit put recit sentenc equal valid lyocel conclus notifi oper creat worldwid monopoli lyocel market elimin exist competit sector enabl parti act independ potenti competitor custom reason set commiss reach conclus propos oper creat domin posit entiti lyocel market worldwid basi eea result effect competit significantli imped common market eea lyocel product process technolog combin patent right acordi lenz player activ market packag quot readi oper quot lyocel product process technolog produc lyocel base technolog view settl intellectu properti disput enter cross licenc agreement decemb parti grant exclus royalti free worldwid licenc manufactur sell lyocel lyocel product lifetim respect patent consequ parti full access parti lyocel product technolog decemb parti hold vast major exist patent lyocel product treatment abil effect block market entri basi respect patent right acordi lenz posit block significantli delai entri parti lyocel product market parti market lyocel product process technolog sell lyocel product line potenti produc lyocel consist confront danger violat patent subsequ litig parti reason parti potenti produc lyocel reluct purchas lyocel product process technolog product line develop supplier acordi lenz notifi oper render difficult parti obtain packag licenc acordi lenz lyocel product process technolog number potenti licensor reduc whilst potenti licensor potenti licensor left merger incent grant packag quot readi oper quot licenc parti significantli reduc merger set recit entiti hold monopoli downstream market lyocel stapl fibr interest monopoli challeng potenti market entrant basi licenc technolog view effect competit develop individu product process patent market stifl number potenti buyer reduc market entri improb forese futur market investig conduct commiss reveal circumst market entri parti offer packag quot readi oper quot licens expect forese futur maximum year whilst east asian compani german engin compani zimmer ag start develop lyocel product process technolog short term market entri stage requir grant licenc part acordi lenz lyocel product process technolog order rule danger intellectu properti litig parti domin challeng short medium term parti repli repli parti address issu argu parti interview commiss made quot serv quot comment quot free ride substanti invest quot parti emphasis absent parti cross licenc agreement lyocel produc parti find quot disproportion requir major invest amp substanti undermin avoid worst remot put reduct competit parti suppli technolog servic quot commiss consid submiss note assess competit situat lyocel product process technolog market sole base submiss parti account seri factual element includ inform provid parti recit alleg danger quot free ride quot parti interest protect invest research develop effort made sector chang fact parti hold vast major exist patent lyocel product treatment posit block significantli delai entri parti lyocel product market market entri improb forese futur fact commiss assess lyocel product process technolog market base contest parti remain valid basi commiss conclus conclus notifi oper creat worldwid monopoli lyocel product process technolog market elimin sever restrict remain competit sector enabl parti act independ potenti competitor custom reason commiss reach conclus notifi oper creat domin posit parti market lyocel product process technolog result effect competit significantli imped common market eea undertak septemb cvc submit phase ii undertak aim remov competit concern identifi commiss statement object propos essenti restat submit commiss phase procedur descript undertak viscos stapl fibr acordi offer grant exclus licenc galaxi patent produc sell galaxi viscos fibr tampon eea nafta independ parti lyocel exclus licenc lenz acordi lyocel patent independ parti license approv commiss licens includ sublicens includ provis technic assist support includ product process technolog geograph scope licenc encompass eea area remedi propos provid subcontract manufactur arrang period year aggreg tonn annum lyocel give parti license access merg group product infrastructur assess undertak commod viscos stapl fibr propos undertak address competit concern rais market commod vsf licenc galaxi fibr parti offer grant concern market vsf tampon spun dy viscos stapl fibr undertak address competit concern rais market spun dy vsf note propos licenc galaxi fibr concern market vsf tampon viscos stapl fibr tampon undertak fulli address competit concern relat market viscos stapl fibr tampon propos licens galaxi patent suffici offset strengthen domin posit result remov lenz fulli credibl challeng acordi domin competitor view high switch cost vsf supplier undergo tampon produc rigor intern qualif process health regulatori clearanc process recit custom expect reluct sourc suppli galaxi license reluct increas tampon manufactur activ usa eea entiti compani provid suppli eea usa deep sea shipment lyocel commiss reason regard propos undertak suffici address competit concern rais statement object respect lyocel license provid effect competit product site unrel parti short term independ product site oper medium term year depend inter alia entiti technic support license perceiv econom viabil invest parti effect deter quick entri pursu high price strategi full utilis capac mainten excess capac continu brand strategi pursu acordi past rais entri barrier parti monopoli power short medium term suffici constrain propos toll manufactur agreement term natur toll manufactur agreement license toll manufactur contractor hereinaft quot license contractor quot commerci disadvantag posit entiti reach transpar license busi strategi cost sale custom lack technic expertis license contractor compet entiti qualiti technic servic depend entiti distribut technic assist compet qualiti distribut servic license contractor profit compet price price formula toll manufactur agreement propos parti product cost manufactur fee ensur cost higher incur entiti give entiti possibl start price war time evid license commerci interest risk align price strategi entiti event entiti decid focu brand segment license align behaviour set price unbrand low brand product level provid effect competit entiti brand product run test technolog develop toll manufactur phase license contractor lower technolog credibl custom wish stai forefront develop addit custom license commit suppli long term start build plant long term suppli credibl license necessarili limit construct commenc plant fulli function demonstr abil ensur long term regular suppli requisit qualiti license contractor effect constrain competit posit entiti short medium term lyocel product process technolog propos undertak insuffici regard lyocel product process technolog entiti remain player worldwid licens technolog readi produc technolog concern produc start lyocel product enter licens agreement entiti run risk patent litig competit market lyocel product process technolog elimin readi produc technolog concern effect situat slow technolog develop align entrant behaviour lyocel stapl fibr product entiti behaviour make likewis imposs entrant effect challeng entiti domin posit lyocel stapl fibr conclus undertak reason set commiss reach conclus propos undertak remov competit concern identifi statement object form basi authoris decis vii conclus reason set commiss conclus concentr lead creation domin posit eea market commod viscos stapl fibr spun dy viscos stapl fibr lyocel lyocel product process technolog strengthen domin posit eea market viscos stapl fibr tampon result effect competit common market function eea agreement significantli imped adopt decis articl notifi oper zellulosefas beteiligung gesellschaft mbh acquir sole control lenz ag mean articl regul eec declar incompat common market function eea agreement articl decis address zellulosefas beteiligung gesellschaft mbh schillerstraß linz austria brussel octob commiss mario monti member commiss oj correct version publish oj oj oj oj commiss decis decemb case comp cvc acordi oj seller akzo nobel commiss decis june case iv akzo nobel courtauld oj commiss decis decemb case iv courtauld snia oj part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk turnov calcul accord articl merger regul commiss notic calcul turnov oj main acordi activ filament yarn sector viscos textil filament viscos industri filament acet textil filament polyest industri filament industri polyamid filament acordi activ acryl stapl fibr carbon industri fibr product competit concern consid illustr quotat intern document parti commiss decis case iv akzo nobel courtauld refer al commiss decis eec septemb case iv dupont ici oj al instanc textil filament yarn market viscos acet commiss decis decemb case iv courtauld snia commiss decis june case iv akzo nobel courtauld polyest polyamid commiss decis februari case iv rhône poulenc snia nordfas oj polyest viscos commiss decis februari case iv twd akzo nobel kuagtextil oj carpet fibr market polyamid nylon polypropylen fibr commiss decis case iv dupont ici refer oj commiss notic extens period valid oj paragraph submiss made parti letter page notifi parti point alleg quot duplic quot commiss maintain evalu market investig inflat doubl count note custom contact detail suppli parti repli signific number commiss market investig contact detail fax number correct commiss drew parti attent fact earli stage parti suppli correct contact detail paragraph bullet point seq small signific transitori increas price ssnip question commiss phase ii questionnair custom read quot manufactur abovement product group made viscos stapl fibr price viscos stapl fibr rise perman type fibr vsf reduc vsf percentag blend ceas produc product chang reduc vsf consumpt price vsf product rise case type fibr reduc percentag vsf ceas produc quot question repeat question base price increas question repeat question refer product group product made lyocel question repeat question refer price increas question read quot gener event perman price increas fulli partli switch vsf lyocel type fibr switch reduc consumpt vsf lyocel quot commiss notic definit relev market purpos commun competit law oj paragraph footnot note question provid addresse concret possibl switch quot vsf lyocel quot quot lyocel vsf quot question phase ii questionnair custom footnot paragraph bullet point seq commiss decis eec septemb case iv dupont ici oj paragraph commiss notic definit relev market purpos commun competit law oj paragraph confirm statement intern document submit cvc confirm statement intern document submit cvc paragraph seq paragraph paragraph appendic evalu questionnair discuss recit exampl state parti repli appendic repres total custom base inform made parti septemb recit figur volum sale lost due custom switch total volum sale custom respond question sampl custom respond highli repres constitut parti total sale eea commiss ask question switch phase investig explicitli includ estim reaction downstream custom discuss assess competit constraint recit likewis issu volum reduct due stop product discuss nowadai viscos account amp lt world stapl fibr consumpt combin lyocel kilotonn year viscos rel import eea amp lt cotton significantli geograph area amp lt eea amp lt worldwid respect figur polyest amp lt eea amp lt worldwid polypropylen amp lt eea amp lt worldwid declin larg due declin textil vsf consumpt turn link gener declin european textil product chang percentag textil woven consumpt recit note instanc increas vsf dispos woven wipe surgic gown swab wound dress vsf replac predominantli dispos cotton fabric gauz footnot result commiss price correl analysi tabl recit paragraph evid technolog develop spin found websit lead oe rotor spin technolog compani http www suessen html foemi htm suessen site oe spin technolog base develop commerci breakthrough consider improv time enhanc spin speed develop neutral respect fibr equal suessen websit state quot polyest synthet fibr prone thermal mechan fibr defect high product speed quot http www suessen html foepp htm http www elitex saurer cz indexg htm elitex saurer webpag evid fibr specif reduc fibr rang suitabl compon spin machin navel open roller paragraph custom cite support hypothesi explicitli state quot develop work imposs give detail answer quot commiss file page question custom refer ask quot switch type blend option switch suffici degre order offset vsf lyocel price increas reason switch switch suffici degre quot custom switch polyest appar unrel potenti develop effect switch past custom cite quot forese possibl quot increas wood pulp increas polypropylen polyest replac quot quantiti viscos quot commiss file page clear custom refer develop mention clear refer develop supplant vsf parti refer complement major wipe manufactur evid expect happen short medium term statement characterist larg major wipe manufactur unawar major develop supplant vsf wipe area futur quot moistur absorb import product function houseclean product function vsf quot commiss file page quot switch due product requir relationship viscos commerci viabl fiber substitut viscos properti increas portion synthet fibr polyest polypropylen alter unaccept fabric characterist quot commiss file page morri comité intern de la rayonn de fibr synthétiqu myth realiti interfibr competit paper present intern wool textil organis intern wool confer cape town republ south africa april quot viscos stapl consumpt rose late reason fashion quot paragraph paragraph repli morri comité intern de la rayonn de fibr synthétiqu myth realiti interfibr competit paper present intern wool textil organis intern wool confer cape town republ south africa april quot fact chang end product innov consum prefer main reason switch fibr price rel state price competit exist valid se extrem respect larg price movement larg price rel order cent quot lyocel filament yarn produc commerci term quot lyocel quot document exclus refer lyocel stapl fibr quot lyocel product technolog quot recit refer lyocel stapl fibr product technolog lyocel filament product technolog note product characterist make lyocel elig woven applic filter wipe applic textil sector higher wet strength lower shrinkag lyocel distinct advantag vsf true textil applic repres lyocel sale sourc small longitudin particl fibril partli detach main bodi fibr paragraph seq appendic repli find confirm statement intern document submit cvc paragraph seq paragraph repli instanc group quot switch ceas product quot quot reduc volum lyocel purchas amp gt quot parti evalu point made document pp commiss file custom switch ceas product document pp count group respons custom questionnair doubl tripl count parti misunderstand repli pp custom refer product group custom partial switch product group switch lyocel parti indiscrimin regard switch occur price increas occur price increas custom repli pp distinguish hypothet type price increas repli interpret repres switch repli state extent switch pp parti analysi includ repli fact gener answer specif state custom switch extent pp exampl state parti repli appendic repres total custom base inform made parti septemb paragraph figur volum sale lost due custom switch total volum sale custom respond question sampl custom respond repres constitut parti total sale eea commiss ask similar question phase investig explicitli includ estim reaction downstream custom discuss assess competit constraint recit hypothet post merger situat refer product figur year illustr acordi decid cut product mobil grimsbi oper plant averag manufactur cost plant sunk consider result averag manufactur cost reduct ad calcul offset acordi increas profit tonn sale due price increas lost profit due reduct sale volum assum acordi profit margin grown price increas price increas highli profit acordi post merger condit effect competit longer provid lenz explicitli lenz simplifi assumpt consider close cost assum observ disproportion rise profit margin rise net sale price made consid commiss posit give precis estim acordi lyocel profit margin fix manufactur cost variabl cost product provid acordi appar includ market distribut amp cost margin averag manufactur cost sale price sale price price increas increas margin manufactur cost profit margin likelihood similar profit maximis capac reduct plant closur higher capac utilis remain plant achiev close heiligenkreuz note commiss meant provid exact calcul specif project purpos illustr hypothet monopolist lyocel necessarili depend sale loss smaller profit maximis depend demand curv larger sale loss profit hypothet monopolist competitor custom assum product cost fall significantli consider invest research develop compar technolog paid lyocel product process fact process involv fewer product step viscos process commiss notic definit relev market purpos commun competit law oj paragraph conclus line commiss practic correl higher tabl consid insuffici previou decis commiss regard correl high correl low instanc commiss decis juli case comp rexam plm american nation paragraph commiss calcul cross price elast lyocel due lack consist data paragraph bullet point seq commiss notic definit relev market purpos commun competit law oj paragraph conclus line commiss decis ec juli state aid grant austria lenz lyocel gmbh amp kg oj paragraph commiss evid lenz time share support commiss view separ lyocel product market vsf note cotton type spinner short stapl length woollen type spinner longer fibr roll good manufactur produc roll process fibr sold convert transform rang end product wipe medic product swab surgic gown technic applic filter coat substrat shoe handbag automot industri differ roll good manufactur depend product technolog intend end product acordi lenz säteri oy finland svenska rayon sweden sniac spain market defin narrowli commiss competit analysi fundament chang amount eur million state basi net sale price lenz acordi year commiss acknowledg statement object slightli overst commiss acknowledg figur addit dyestuff cost account paragraph notifi parti estim capit cost equip vsf plant spun dy vsf product approxim eur capac tonn year except fibr cotton wool wad recit sold directli end manufactur true case compani produc tampon viscos product person care product babi wipe case bui vsf tampon directli vsf produc input materi product suppli roll good manufactur recit footnot similarli small european produc vsf tampon make distinct fibr sell product cotton wool wad tampon compani case switch repres increas product capac vsf tampon market entri possibl shift product capac confirm produc similarli notifi parti state product vsf tampon requir fulfil criteria qualiti puriti control requir special equip clean storag facil avoid contamin fibr account edana european woven trade organis voluntari code practic acordi repli commiss request inform date wad hygien product differ significantli woven product small differ addit switch easili ow plant closur competitor lenz produc product worldwid tow strictli speak stapl fibr extrud fibr bundl cut stapl similar phase product process gener belong group vsf price correl analysi overst scope relev market spuriou correl occur spuriou correl mean high correl coeffici instanc commod vsf spun dy vsf driven common influenc common cost common trend competit interact product common trend purpos test integr carri commiss gener term test integr base assumpt seri data diverg long run product concern belong market case seri econometr jargon call stationari contrast commod vsf spun dy vsf belong market rel price time seri stationari high degre correl time seri due common trend result statist test present case explan unit root test remain critic valu justifi conclud commod vsf spun dy vsf belong market unit root test commiss adf test examin null hypothesi rel price commod vsf spun dy vsf stationari specif test result lower critic fail reject null hypothesi rel price revert long run equilibrium product belong relev market correl higher tabl consid insuffici previou decis commiss regard correl high correl low instanc commiss decis juli case comp rexam plm american nation paragraph integr test carri commiss purpos footnot test reveal high level correl product due common trend competit interact commod vsf polyest paragraph bullet point seq paragraph repli paragraph repli refer annex quot nera paper quot paragraph paragraph repli refer annex quot nera paper quot paragraph paragraph repli refer annex quot nera paper quot paragraph footnot paragraph note vsf product market correl fibr analys subseg vsf recit price vsf product assum impact aggreg vsf price seri detail recit paragraph commiss decis ec june case iv shell montecatini oj paragraph commiss decis march case iv union carbid enichem oj paragraph commiss decis octob case iv shell montel oj paragraph commiss decis march case comp shell basf jv project nicol paragraph paragraph bullet point refer repli intern document parti repli paragraph bullet point refer intern document paragraph bullet point confirm parti repli paragraph draft notif date march suggest figur amp lt refer intern document paragraph seq refer intern document case hoffmann la roch ecr paragraph court instanc case gencor ecr paragraph case hoffmann la roch refer paragraph case gencor refer paragraph refer intern document notifi parti view express notif quot compani build viscos stapl oper locat china east quot de bottleneck mean replac part exist product line prevent product increas refer intern document reason longer downturn gener vsf textil downward trend period refer intern document vsf substrat materi artifici leather coat broad rang product compris clinic sheet drape spong swab dress wound contact pad face mask draw sheet shroud hospit gown cap apron bib shoe cover medic surgic garment person care wet wipe babi wipe household industri wipe confirm intern strategi document prepar cvc instanc passag intern strategi document prepar cvc estim notifi parti competitor estim import slightli kilotonn mention draft notif date march suggest import figur amp lt refer intern document cirf inform man made fibr volum hereinaft quot cirf handbook quot pp seq note cirf handbook figur cellulos stapl fibr tow includ lyocel capac utilis asia notif contrari notifi parti view commiss regard indic substanti spare capac cirf handbook pp seq paragraph commiss consid quantiti state parti repli import underst correspond previou inform submit parti export figur western europ plant repli commiss request inform date june observ made parti repli paragraph bank austria repli statement object increas import indian birla grasim group turkei year commiss remark birla lenz retali strategi recit refer confidenti statement intern document competitor rate cirf data submit notif suggest industri averag amp gt environment concern limit europ pt inti indorayon indonesian mother compani finnish undertak säteri oy close recent built plant indonesia govern order due unresolv environment issu plant close pulp price constitut total cost acordi product european plant acordi acordi acordi estim base data product sale submit parti competitor order guard mutual confidenti parti concentr exact percentag deriv therefrom disclos true säteri higher market share acordi commod vsf market custom stress lenz acordi offer highest qualiti standard equal present segment commod vsf market recit refer intern document effect achiev short term output restrict capac restrict due persist fix cost behaviour sustain medium long term due cyclic textil vsf consumpt reach peak recit refer intern document confirm intern strategi document prepar cvc suppli situat usa capac utilis acordi lenz plant low entiti plan capac increas lowland tennesse kilotonn lenz plant lowland meet demand full slight increas import recent close acordi plant mobil alabama swing capac lenz plant onward case decreas consumpt increas import paragraph seq footnot quot oe spinner quot spinner quot open end quot spin technolog fibr qualiti high degre tenac suppli produc activ market refer intern document confirm intern strategi document prepar cvc commiss decis decemb case iv courtauld snia refer paragraph morri comité intern de la rayonn de fibr synthétiqu myth realiti interfibr competit paper present intern wool textil organis intern wool confer cape town republ south africa april factor decis interfibr competit paper state quot fact chang end product innov consum prefer main reason switch fibr price rel quot note lenz compani spend highest amount monei research develop amp vsf area reason state recit recit competit strength combin entiti diminish product market defin narrowli commod vsf decis eec case iv dupont ici refer paragraph seq notifi parti report net trade surplu viscos pure blend fabric figur confirm cirf handbook trade balanc viscos stapl tow textil report amp lt kilotonn balanc fibr show neg kilotonn man made fibr cirf paper point possibl demand growth textil product eea offset neg effect rise net import textil cloth eea mill consumpt fibr morri comité intern de la rayonn de fibr synthétiqu myth realiti interfibr competit april tabl world product woven good origin western europ origin usa lenz produc vsf western europ sourc edana http www vliesstoff org nonwoven statist html paragraph extent exit happen area eastern europ turkei mediterranean countri eea acordi lenz main supplier commod vsf export eea plant paragraph event price increas event price increas note repli rate questionnair high custom repres third parti sale volum eea respond ask explicitli custom felt partli stop product hesit consid custom reduc volum custom indic hypothet behaviour quot depend market condit quot consid competit constraint reaction depend unspecifi condit conduc volum reduc effect effect maintain current sale volum morri comité intern de la rayonn de fibr synthétiqu myth realiti interfibr competit paper present intern wool textil organis intern wool confer cape town republ south africa april quot price signific factor interfibr competit believ due length textil pipelin conserv natur textil industri compon raw materi price final cost product pair tight cost polyamid partial orient yarn tight sale price retail outlet take cost fibr cotton shirt retail level percent quot morri comité intern de la rayonn de fibr synthétiqu myth realiti interfibr competit paper present intern wool textil organis intern wool confer cape town republ south africa april quot state price competit exist valid se extrem respect larg price movement larg price rel order cent quot confirm intern document prepar cvc refer intern document paragraph legal advisor birla grasim group comment issu letter date septemb page commiss file copi made access notifi parti letter earlier submiss made behalf birla grasim group page commiss file repeat distinct recit svenska rayon produc viscos tow recit refer intern document paragraph seq page ident commiss file note compar small size tampon vsf market state recit note european produc vsf consid small fulli viabl competitor paragraph seq birla submiss page commiss file lack factual inform potenti market entri replac suffici compens refer mere announc websit brought commiss attent refer intern strategi document refer intern strategi document paragraph seq paragraph seq switch recit paragraph parti repli paragraph seq refer intern document event price increas event price increas paragraph seq galaxi highest qualiti viscos stapl fibr tampon protect patent kei jurisdict notabl uk usa north american free trade agreement fact compani consid buyer licenc swedish compani svenska rayon consid small galaxi licenc provid level competit constraint domin firm exercis lenz svenska rayon potenti buyer finnish base compani säteri oy disadvantag enter market activ true irrespect extrus technolog galaxi patent relat qualif process involv product process term hygien condit slow technolog develop due factor firstli incent entiti invest technolog develop lower barrier entri reduc quot free rider quot problem face regard license whilst free rider problem exist regard current competit situat acordi lenz effect counterbalanc technolog rivalri compani incent innov post merger incent innov reduc