EC clears brake shim joint venture

BRUSSELS, Belgium (Jan. 25)—The European Commission has cleared a joint venture between Danish firm Meneta A/S, part of A/S Roulunds Fabriker, and TMD Friction GmbH of Leverkusen, Germany, to make anti-vibration devices for automotive disc brakes. The deal concerns Meneta Advanced Shims Technology A/S (MAST), which is wholly owned by Meneta. MAST makes anti-vibration shims for disc brakes based on rubber-coated steel sheets. Under the terms of the venture, MAST will be spun off as a separate company, in which TMD, a manufacturer of automotive friction materials, acquires joint control. "The transaction raises no competition concerns given MAST's relatively small European market share, the existence of strong competitors and the buying power of automobile manufacturers," according to a Jan. 25 commission statement.