3 September 1998: The Czech Economic Competition Office (UOHS) has given the go-ahead to the merger between the Litomysl-based glassmaker Vertex and the German firm Vetrotex Deutschland GmbH, said a r…
3 September 1998: The Czech Economic Competition Office (UOHS) has given the go-ahead to the merger between the Litomysl-based glassmaker Vertex and the German firm Vetrotex Deutschland GmbH, said a recent press report. The UOHS has concluded that any potential damage to competition from the merger would be small in comparison with the benefits it will bring. The merger resulted from an agreement on securities transfers under which the German firm bought 90.55% of Vertex, the report said. Vertex produces and supplies the domestic market with glass fibre and related products. Vetrotex, part of the Saint-Gobain group, is active on the Czech market through firms in which it has majority holdings and also as a direct importer of glass textile yarn.