CELEX: 32021M10520
Language: en
Date: 2021-11-18 00:00:00
Title: Commission Decision of 18/11/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10520 - CUMMINS / CHINA PETROCHEMICAL CORPORATION / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                 Brussels, 18.11.2021
                                                                 C(2021) 8473 final
                                                                                 PUBLIC VERSION
                                                                 Cummins Inc.
                                                                 500 Jackson Street
                                                                 Columbus, IN 47201
                                                                 United States of America
                                                                 Enze Haihe (Tianjin) Private Equity
                                                                 LLP
                                                                 c/o Sinopec Group
                                                                 21st Floor, West Tower, World
                                                                 Financial Center, 1 Dongsanhuan
                                                                 Zhonglu
                                                                 Chaoyang District, Beijing
                                                                 China
Subject:        Case M.10520 – CUMMINS / CHINA PETROCHEMICAL
                CORPORATION / 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 22 October 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Cummins
        Power Generation (S) Pte. Ltd. (“Cummins Power Generation”, Singapore) controlled
        by Cummins Inc. (“Cummins”, USA) and Enze Haihe (Tianjin) Private Equity LLP
        (“Enze Haihe”, People’s Republic of China) controlled by China Petrochemical
        Corporation (People’s Republic of China) acquire within the meaning of Article
        3(1)(b) and 3(4) of the Merger Regulation joint control of Cummins Enze
        (Guangdong) Hydrogen Technology Co., Ltd. (“CEHT”, People’s Republic of China)
        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 throughout this decision.
2       OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).
3       Publication in the Official Journal of the European Union No C 446, 3.11.2021, p. 36.
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.
 ---pagebreak--- 2. The business activities of the undertakings concerned are:
       Cummins Power Generation is part of Cummins which is a globally active US
        designer and manufacturer of diesel and alternative fuel engines and power
        supply systems; Cummins’ hydrogen power business includes the design and
        manufacture of hydrogen generation equipment for industrial and commercial use
        and the supply of hydrogen generation equipment for industrial operations and
        fuel stations,
       Enze Haihe is a private equity fund that engages in equity investment, investment
        management, asset management and other activities to support China
        Petrochemical Corporation’s future strategic presence in emerging markets,
        especially in the hydrogen energy industry,
       CEHT will be based in China and engage in the application engineering
        development, manufacturing, testing, sale, installation and service of hydrogen
        generation electrolyzer systems, in particular proton exchange membrane
        electrolyzers.
3. 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
4. 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 application 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.
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