EU launches indepth inquiry into Huntsman's purchase of Rockwood assets

BRUSSELS, March 5 Wed Mar 5, 2014 12:20pm EST

BRUSSELS, March 5 (Reuters) - The European Commission has opened an in-depth investigation into chemicals group Huntsman's purchase of assets owned by fellow chemicals producer Rockwood.

The Commission, the EU's executive, has concerns the transaction may reduce competition in the 3 billion euro ($4 billion) European market for sulphate-based titanium dioxide, used in products such as toothpaste, window frames and paper.

It has until July 22 to take a decision on whether the purchase conforms with EU competition law.

Huntsman plans to acquire Rockwood's units producing titanium dioxide and functional additives, colour pigments, timber treatments and other chemicals.