Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
  
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels,  28.7.2022  
C(2022 ) 5592 final  
PUBLIC VERSION  
Evonik Industries AG  
Rellinghauser Straße 1 -11  
45128 Essen  
Germany  
 
AVIC Composite Corporation Ltd.  
No. 25 Shungton Road  
Shunyi District - Beijing  
People's Republic of China  
Subject : Case M.10756 - ACC / EVONIK / JV  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 5 July 2022 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger Regulation , by which  Evonik 
Operations GmbH (Germany) and Evonik (China) Co. Ltd. (China) (toge ther referred 
to as ‘Evonik’), ultimately contro lled by RAG -Stiftung (Germany), and AVIC 
Composite Corporation Ltd. (‘ACC’, China), together with affiliate Yu Hua Funding 
& Investment (Xiamen) Limited Partnership (‘Yu Hua’, China), both ultimately 
controll ed by Aviation Industry Corporation of China (‘AVIC’, China),  acquire within 
the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation  joint control of  ACC 
Evonik (Shanghai) Composite Materials Techno logy Co. Ltd. (the ‘JV’, China) . The 
concentratio n is accomplished by way of purchase of shares in a newly created 
company constituting a joint venture.3 
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used t hroughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 
3  Publication in the Official Jou rnal of the European Union No C 265 , 11.07.2022 , p. 14. 

 
2 2. The business activities of the undertakings concerned  are the following : 
 Evonik is active in the production and marketing of specialty chemicals, focusing 
on products in the areas of speciality additives, nutrition and care, smart 
materials, performance materials, and technology & infrastructure,  
 ACC is a wholly -owned subsidia ry of AVIC  (a Chinese state -owned aerospace 
company which also owns Yu Hua investment fund ) and is active in the 
productio n and sale of PMI foam . 
3. The JV will be active in the production and marketing of polymethacrylimid (PMI) 
foam and polyether ether keto ne (PEEK) -based powders, as well as distribution of 
PEEK -based resins and PEEK -based compounds to customers located in China, Hong 
Kong SAR, China, and Macau SAR, China.  
4. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5(a) of the Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No 139/2004 .4 
5. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in applicat ion of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
 
                                                 
4  OJ C 366, 14.12.2013, p. 5 .