Author: Tasos Mallotis

The building materials group can take over the former construction chemicals division of BASF, but must sell MBCC’s chemical additives business in order to do so. The EU Commission has approved the takeover of MBCC by Sika subject to conditions. The building materials group has to sell the global MBCC business with chemical additives. After a preliminary investigation, the Commission came to the conclusion that the merger would have “significantly affected competition and led to higher prices and less innovation,” the agency said on Wednesday evening. To address the Commission’s concerns, Sika offered to sell MBCC’s chemical additives business in the…

Interestingly, this development comes when the Biden administration is finalizing plans to send a Patriot system to Ukraine after months of Ukrainian demands and consternation in Washington. Interestingly, the Greeks want to deploy the Patriot missiles on the island of Crete. This is the same island on which a Greek S-300 allegedly “locked” Turkish F-16 fighters on August 23 this year. Greece needs advanced SAM systems in its long-running tensions with Turkey in the eastern Mediterranean over a series of territorial and maritime disputes. The S-300PMU1 is an export variant of the Russian-made S-300P, developed between 1985 to 1989 and was first…

The largest shipbuilder in Europe, Italian Fincantieri, and Elefsis Shipyards in Greece, owned by Onex, have signed a memorandum for the production and maintenance of two corvettes, with an option for a third. It provides for the construction of state-of-the-art warships at the facilities of Elefsis Shipyards in Attica, Greece. The shipbuilding of the three corvettes, together with the necessary upgrades, improvements, know-how and transfer of technology and equipment, is estimated at 80 million euros, the Ministry of Development and Investment said in a statement. The project is expected to open 2,500 new jobs in the shipbuilding sector. A collaboration with multiplier-effect…