Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

M.8271 – Hitachi Chemical Company/FIAMM/JV

SECTION 1.2

Description of the concentration

1.On December 12, Hitachi Chemical Company, Ltd. (“HCC”), a subsidiary of Hitachi Ltd. entered into an agreement to acquire a jointly controlling interest in the lead-acid batteries business (industrial and automotive batteries) that is currently solely owned and controlled by FIAMM S.p.A. To that effect, FIAMM S.p.A. will transfer its relevant subsidiaries and activities to a separate legal entity, in which Hitachi Chemical Company, Ltd. will acquire a jointly controlling 51% ownership stake. FIAMM S.p.A. will retain the remaining 49% ownership stake and joint control. Other activities of FIAMM S.p.A. are not part of the transaction.

2.The Parties are active in automotive and industrial standby lead-acid batteries.

1Hitachi Ltd. has sole control over HCC, owning 51.2% of HCC’s stock as of 31 March 2016. No other shareholders has shares of more than 3.8%. See http://www.hitachi-chem.co.jp/english/ir/stock-info.html