Press release from the Competition Council regarding the economic concentration project concerning the creation of two joint ventures by the companies “Honeywell International Inc.” and “Guangzhou Tinci Materials Technology Co. Ltd”

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 adopted for its implementation, as amended and supplemented, the Competition Council makes available to the public the “summary of the operation” below, containing the information provided by the parties.

This information was prepared by the notifying parties, who are solely responsible for it. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 adopted for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and individuals concerned:

• Founding Company No. 1: “Honeywell International Inc.”;
• Founding Company No. 2: “Guangzhou Tinci Materials Technology Co. Ltd”;

Nature of the operation

• Creation of two joint ventures.

Economic sector concerned:

• Market for the production and supply of electrolytes for lithium-ion batteries;
• Market for the production and supply of lithium electrolyte salts.

Deadline for interested third parties to submit their observations:

• 10 days from the date of publication of this press release, i.e. February 21, 2025

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration operation concerning the creation of two joint ventures by the companies “Honeywell International Inc.” and “Guangzhou Tinci Materials Technology Co. Ltd”.

“Honeywell International Inc.” is a U.S. company, registered with the Delaware Commercial Register under number 2061772 and headquartered at 855 South Mint Street Charlotte, 28202 North Carolina, United States. It is active in various sectors, including industrial manufacturing, aerospace equipment, advanced industrial materials, and energy.

“Guangzhou Tinci Materials Technology Co. Ltd” is a Chinese company, registered under number 440101000105707 and headquartered at 8 Kangda Road, Huangpu, Guangzhou, Guangdong Province, 510730, China. It is engaged in research and development, production, and sale of fine chemical materials, mainly including materials for lithium-ion batteries, daily chemical materials, and specialized chemical products.

The joint ventures, established under U.S. law, will be active in the production and supply of salt and electrolytes for lithium-ion batteries.

 

Done in Rabat, February 10, 2025