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On 4 August 2017, the European Commission gave formal approval for Hobas (Klagenfurt / Austria;, Flowtite (Sandefjord / Norway; and Amiantit (Dammam / Saudi Arabia; to merge their European activities. By the end of August, the companies will be brought together under a holding company in which Hobas' owner Wietersdorfer(Klagenfurt; and Amiantit each hold 50% of the shares.


The joint venture, headquartered in Klagenfurt, will start operations at the beginning of September.