No L 158/24 Official Journal of the European Communities 25. 6. 94 COMMISSION COMMISSION DECISION of 21 December 1993 declaring a concentration to be compatible with the common market (Case No IV/M.358 — Pilkington-Techint/SIV) Council Regulation (EEC) No 4064/89 (Only the English text is authentic) (Text with EEA relevance) (94/359/EC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, Having regard to Council Regulation (EEC) No 4064/89 of 21 December 1989 on the control of concentrations between undertakings, and in particular Article 8 (2) thereof (), Having regard to the Commission’s decision of 2 September 1993 to initiate proceedings in this case, Having given the undertakings concerned to opportunity to make known their views on the objections raised by - the Commission, After consultation of the Advisory Committee on concen- trations (), Whereas : I. THE NOTIFIED OPERATION (1)" The present case concerns the proposed acquisition of a 50 % stake apiece by Pilkington plc (herei- nafter referred to as ‘Pilkington’) and Techint Finanziaria S.rl. (hereinafter ‘Techint’) in Societd Italiana Vetro S.p.A. (‘SIV’). SIV is a vertically in- tegrated flat-glass and automotive safety glass ‘producer whose principal production assets are located in Italy. SIV is currently owned by the Italian State but is now being privatized. () OJ No L 395, 30. 12. 1989, p. 1 ; corrected version'O_] No L 257, 21. 9. 11990, p. 13. ( O] No C 173, 25. 6. 1994. @ @) ) During the course of the proceedings, the parties informed the Commission that immediately following completion of the acquisition Techint would assign its 50 % interest in SIV to a newly created subsidiary called Vetrotec Limited, which is 95% held by Techint and 5% by Techint Curacao NV, a wholly owned subsidiary of San Faustin NV, the ultimate parent company of Techint. II. THE PARTIES Pilkington is principally engaged in the manufac- ture of flat and automotive safety glass, insulation and vision-care products. Pilkington is one of the main producers of flat glass in Western Europe and is also active in several third countries, especially in the United States. Techint is the Italian subsidiary of a conglomerate which owns business throughout South America, with a substantial bias towards Argentina. The group’s principal - activities are: steel production and manufacturing, engineering and construction, mechanical engineering, oil and gas, services and other activities. Techint is not engaged in activities which overlap with those of Pilkington or of the company to be acquired, SIV. IIl. COMMUNITY DIMENSION The operation has a Community dimension. The total worldwide turnover of Pilkington in the finan- cial year ended 31 March 1993 was ECU 3 380,3 million while the Community turnover for the same period was ECU 1 556,7 million. Techint’s