The antitrust watchdog said in a statement that it assessed the economic concentration operation in terms of its compatibility with the normal competitive environment and found it poses no significant obstacles in terms of actual competition on the Romanian market or a substantial part of it, mainly by creating or consolidating a dominant position.
The transaction represents an operation carried out between foreign entities, and the companies involved in the transaction have no production facilities for auto upholstery, in Romania. The entire turnover registered in Romania on the market of passenger vehicle upholstery comes from imports.
ContiTech AG is company of the Continental Group controlled by Continental AG. ContiTech AG manufactures and sells rubber and plastic products for a variety of industrial applications, other than tires. Through the branch Benecke-Kaliko AG, ContiTech manufcatures and sells materials used for passenger vehicle upholstery.
Hornschuch Group GmbH is a privately-owned company whose shares are held by various private capital funds and by Hornschuch management. Hornschuch Group GmbH manufactures mainly foils used to decorate home interior and exterior applications. The company also operates on the market of plastic foils used for passenger vehicle interiors.