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Image header Agence Europe
Europe Daily Bulletin No. 8074
Contents Publication in full By article 23 / 29
GENERAL NEWS / (eu) eu/competition

Go-ahead for INA's takeover of FAG

Brussels, 19/10/2001 (Agence Europe) - The Commission has authorised the acquisition of German industrial bearings manufacturer FAG by rival INA, also of Germany. The merger will create the world's second biggest industrial bearings company behind SKF of Sweden. The Commission's investigation showed that the companies' activities are largely complementary and they have a different client base. INA concentrates on the automotive sector, whereas FAG has other types of industrial customers, all with very specific needs. The new company will be faced with a sufficient level of competition and a sufficient purchasing power from the car industry and other sectors.

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