The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control over NPROXX B.V. of the Netherlands by Cummins Inc. of the US and Enrichment Technology Company Ltd. (“ETC”) of the UK.
NPROXX is active in the design, development, and sale of composite pressure vessels for the storage and transportation of hydrogen or for compressed natural gases, used for different applications in particular in the automotive and transport sectors.
Cummins is a globally active manufacturer of diesel and gas engines and power supply systems.
ETC is active in the design, development, and manufacture of gas centrifuges for the enrichment of uranium for nuclear energy.
The Commission concluded that the proposed acquisition would raise no competition concerns, given the negligible presence of NPROXX in the European Economic Area. The transaction was examined under the simplified merger review procedure.