Rotovia Ltd.'s acquisition of all shares in RPC Promens International BV

The Competition Authority has been reviewing the acquisition by Rotovia Ltd. of all shares in RPC Promens International BV, the parent company of Sæplast Iceland Ltd. and Tempra Ltd. Sæplast designs and manufactures double-insulated containers and triple-reinforced PE containers and pallets, which are used in the food production and recycling industries. Sæplast also produces plastic products for the construction industry, such as wells, tanks, septic tanks and partitions. Tempra manufactures packaging for fresh fish exports and insulation for the construction industry from EPS, i.e. polystyrene. In addition to producing building insulation and packaging, Tempra offers various accessories for the transport of fresh produce as well as insulation. Rotovia was established in connection with the merger to manage the joint investment by Freyja and SÍA IV in Promens.

The Competition Authority's investigation revealed that no concentration takes place in the relevant markets of the case following the merger. However, conditions were imposed on the merger to prevent adverse economic linkages or other barriers to competition that could arise from the ownership of Rotovia by SÍA IV and Freyja, and from the direct and indirect ownership of other businesses by the owners of SÍA IV and Freyja. It is the conclusion of the investigation that the said conditions remedy the competition concerns that would otherwise have arisen from the merger.