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Wednesday, 04 May 2011

Orange juice: Commission clears merger between Votorantim and Fischer

The European Commission has approved under the EU Merger Regulation the creation of a joint venture between the Brazilian groups Votorantim and Fischer that will combine their respective activities in the orange juice sector. Although the merger will create the world's largest wholesale supplier of orange juice, the Commission concluded, after an in-depth investigation, that there would remain sufficient competition from a number of companies in Europe and worldwide. […] The Commission’s in-depth examination showed that despite the joint venture's leading position on the orange juice market, it would continue to face competitive pressure from other established suppliers. It showed that these suppliers would not be restricted in their access to fresh oranges and would therefore be able to counteract any strategy on the part of the joint venture to increase prices by reducing output. The Commission's in-depth investigation also revealed that many customers have multiple sources of supply and that switching costs are low given the commodity-type nature of the orange juice produced by the joint venture and its competitors.

Source: European Commission