January 21, 2009 / 3:56 PM / 10 years ago

EU exec clears Mauser/Reyde joint venture

BRUSSELS, Jan 21 (Reuters) - A joint venture between Mauser International, a German maker of industrial packaging, and Spanish counterpart Reyde SA received the green light from the European Commission on Wednesday.

The new venture aims to produce intermediate bulk containers.

Mauser is also to sell the assets of its plastic-drum business in the south of France to Reyde, the Commission, competition watchdog of the 27-nation European Union, said in a statement.

It said though there were overlaps in several business ares of the companies, “they would continue to face several effective competitors after the proposed joint venture was established”.

Mauser is part of the Mauser group, controlled by Dubai Holding, while Reyde is controlled by Armando Alvarez Group. (Reporting by Bate Felix, editing by Dale Hudson)

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