BRUSSELS (Thomson Financial) - The European Commission said it has cleared
Acea SpA.'s proposed waste-to-energy joint venture with Pirelli & Co. unit
Pirelli Ambiente.
The transaction was cleared under the EU's 'simplified' merger review
procedure for cases which the commission believes do not pose competition
concerns.
Each company will own 50 percent in the joint venture, which will be called
A.PI.C.E.
In January, the two companies said A.PI.C.E. will use Pirelli Ambiente
patents to build and manage plants for manufacturing high quality solid
recovered fuel from urban waste (CDR-Q) that can then be used in thermoelectric
power stations and cement kilns.
CDR-Q is used as a partial substitute for coal in thermoelectric power
stations with economic and environmental benefits for the community, the
companies said.
The use of CDR-Q can reduce the difficulties of waste disposal, they added.
simon.zekaria@thomson.com
sz/ajb
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|