The European Union's antitrust regulators Thursday accepted concessions by Rio Tinto Alcan that aim to solve competition concerns about the contractual use of a technology to process aluminum.
"With today's commitments we have achieved a far-reaching solution to the concerns raised by the Commission," Joaquin Almunia, the European Competition Commissioner, said in a statement. "Rio Tinto Alcan's commitments will open up the market for equipment used in aluminum smelters. As a result, the customers of aluminum technology and equipment will have more choice," he explained.
The Commission was investigating the practice by Alcan, a Canadian company which was bought by Rio Tinto PLC RIO in 2007, to link the licenses for one of its leading aluminum smelting technologies to the purchase of equipment from one of its subsidiaries.
After negotiations with the EU, Rio Tinto Alcan had offered to modify the terms of its future technology transfer agreements. The Commission then tested with other market participants and parties involved if the concessions would solve the antitrust concerns.
Thursday's decision makes the concessions legally binding, which means that the company could be fined if it doesn't stand by them.
豫公网安备41010502003434号