BRUSSELS (Nov. 20)—The European Commission has approved the takeover of German engineering firm Mannesmann Sachs A.G.—parent of the Boge rubber-metal bonding business—by automotive components maker ZF Friedrichshafen A.G. ZF supplies transmission units, components for axles and chassis units, steering and complete systems, while Sachs makes parts such as drivetrains, chassis, rubber-metal parts and hydraulic vibration dampers. There are a number of overlaps in the case of rubber-metal parts for vibration dampers between ZF and Sachs, particularly for chassis- and engine-mountings, noted the EC. However, the EC "in view of the existence of strong competitors and the fact that the car industry is a strong counterpart to the distributors,àthe proposal does not give rise to competition concerns," according to a Nov. 19 EC ruling.
EC approves sale of Mannesmann Sachs
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