General
EU Commission approves Cummins and Sinopec JV
The joint venture will develop and sell hydrogen generation electrolyser systems
- By ICN Bureau
| November 19, 2021
The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Cummins of the US and China Petrochemical Corporation of China (SINOPEC).
The joint venture will develop and sell hydrogen generation electrolyser systems. Cummins is active in the manufacturing of diesel and alternative fuel engines and power supply systems. China Petrochemical Corporation is active in the petroleum and petrochemical sectors.
The Commission concluded that the proposed acquisition would raise no competition concerns, because the joint venture has no actual or foreseen activities in the European Economic Area. The transaction was examined under the simplified merger review procedure.
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