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Image header Agence Europe
Europe Daily Bulletin No. 7982
Contents Publication in full By article 24 / 45
GENERAL NEWS / (eu) eu/competition

Commission allows Continental to take over Temic

Brussels, 12/06/2001 (Agence Europe) - On Tuesday, the European Commission allowed the German firm Continental AG to take over Daimler Chrysler's Temic business. Among other things' continental is active in the manufacture of brakes and pneumatic spring systems for cars. Temic manufactures the electronic device necessary for these systems to work. The vertical integration that will result from this concentration operation will not lead to the creation of a dominant position to the benefit of Continental, says the European Executive, stating that Temic did not supply Daimler Chrysler and already worked to a large extent as supplier of continental. Consequently, the operation will neither create nor strengthen a dominant position impeding competition (on a market dominated by Bosch).

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