No L 50/18 Official Journal of the European Communities (Acts whose publication is not obligatory) COMMISSION COMMISSION DECISION of 22 December 1987 relating to a proceeding under Article 85 of the EEC Treaty (IV/31.846 — Enichem/ICI) (Only the English and Italian texts are authentic) (88/87/EEC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Economic Community, Having regard to Council Regulation No 17 of 6 February 1962 : First Regulation implementing Articles 85 and 86 of the Treaty ('), as last amended by the Act of Accession of Spain and Portugal, and in particular Articles 6 and 8 thereof, Having regard to the application for negative clearance and the notification for exemptioh, submitted under Articles 2 and 4 of Regulation No 17 on 26 March 1986 by Enichem SpA; Milan (Enichem) and Imperial Chemical Industries plc, London (ICI), concerning the agreements between them signed on 12 February 1986, Having regard to the summary of the application and notification published pursuant to Article 19 (3) of Regu- lation No 17 (3, After consulting the Advisory Committee on Restrictive Practices and Dominant Positions, Whereas : L. THE FACTS A. Subject of the Decision (1)  This Decision relates to the agreements between Enichem and ICI under which inter alia they set () OJ No 13, 21. 2. 1962, p. 204/62. () OJ No C 217, 15. 8. 1987, p. 2. @ &) up a jointly-6wned company, European Vinyls Corporation (EVC), to operate in the vinyl chloride monomer (VCM) and polyvinylchloride (PVC) sectors. The Decision also relates to the agreements between Enichem and ICI to shut down, reduce the capacity of or convert certain plants or facilities. B. The undertakings Enichem is the petrochemicals subsidiary of the Italian State holding company, ENI, which has interests in the energy (oil and gas) sector and in several other industries. Enichem is one of the largest European petrochemicals companies, with assets mainly located in Italy. Its turnover in 1985 was Lit 7 664 billion (approximately five billion ECU). ICI is a British company with worldwide interests in several industries. Its main business is chemicals, of which it produces a wide range. Petrochemicals and thermoplastics account for about a quarter of group turnover (in 1985 £ 10 725 million, approxi- mately 18 billion ECU). It - has assets in the United Kingdom and in many countries of the world; nearly 80 % of them are located in EEC Member States. 24.2.88