The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Mondi Štětí of the Czech Republic, Holzindustrie Maresch of Austria, and ECO-INVESTMENT also of the Czech Republic.

The joint venture will be active in the construction and operation of a sawmill in the Czech Republic. Mondi Štětí supplies corrugated base paper and market pulp and manufactures high quality kraft paper. Holzindustrie Maresch manufactures wood products and specialises in the manufacture of sawn wood. ECO-INVESTMENT holds investments in the paper, packaging, meat processing, energy and real estate industries.

The Commission concluded that the proposed transaction would raise no competition concerns given the limited overlaps between the companies’ activities. The transaction was examined under the simplified merger review procedure.