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Beverage Industry News
Sidel
and Tetra Laval merge their Beverage and Packaging Machine
Business
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Sidel,
Octeville-sur-mer, October, 25.2002
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Sidel hopes to quickly finalize its merger with Tetra
Laval Group
 
In a ruling on
October, 25th 2002, the European Court of Justice
overturned the European Commission's decision
prohibiting the merger of Tetra Laval and Sidel and the
related divestiture decision.
Gerard Stricher,
President and CEO of Sidel, states that, "the
Court's decision represents a key step for Sidel. The
ruling is expected to allow Sidel to quickly reap the
benefits of an industrial shareholder that would be
capable of supporting the Group's long-term development
and bolstering the company's recovery."
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Tetra Laval Chairman
Göran Grosskopf also welcomed the decision:
"Tetra
Laval decided to appeal this decision because we did not
believe that the Commission had established that the
merger would result in a strengthening of Tetra
Laval’s position in its aseptic carton business, nor
that the merger would result in a dominant position
being created in the PET equipment markets."
Commenting on today’s ruling, Göran Grosskopf,
Chairman of the Board of Tetra Laval said, “We are
very pleased with this ruling and have always believed
we had strong arguments for an approval. We hope for a
fast process with the Commission so that we can welcome
Sidel as an additional member within the Tetra Laval
group.”
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Source:
Sidel News Release
>>Sidel Group
>>Tetra
Pak
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