The European Commission has approved under European Union merger regulations the acquisition of joint control over a newly created joint venture by General Electric and ATI, both of the US, the EC said Tuesday.
The joint venture will develop novel titanium alloy production processes.
General Electric is a global, diversified manufacturing, technology and services company. ATI is a worldwide producer of specialty materials and components, including titanium and titanium alloys, nickel-based alloys and other specialty steels and alloys.
The EC said it concluded that the proposed transaction would not raise competition concerns as the joint venture does not have activities in the European Economic Area.
