EC approves Atecs takeover by Bosch and Siemens

MUNICH, Germany (Aug. 31)—The European Commission Aug. 29 gave Robert Bosch GmbH and Siemens Automotive Corp. the green light to purchase three Atecs Mannesmann A.G. companies, VDO A.G., Dematic A.G. and Sachs A.G. under which Mannesmann Boge A.G. and its U.S. arm, Boge North America, fall. The companies expect to attain U.S. approval for the deal within the next few months. The agreement calls for no management changes for two years, and Boge will operate under the Siemens group, according to Marvin Pisarczyk, president of Boge N.A. Pisarczyk said the North American antivibration products maker is in discussions to improve its position on the continent through acquisition.