Brussels, 26/08/2002 (Agence Europe) - Concluding that it represents no serious threat to competition in the EU, the European Commission has decided to approve the acquisition of TRW Aeronautical Systems Group (TRW ASG, a manufacturer of aeronautical components and member of the US group TRW) by the American Goodrich Corporation, which is active in the aerospace industry.
A Commission press release explains that "the horizontal overlaps between the activities of Goodrich and TRW ASG are limited and that, for all products concerned, the combined firm will continue to face several strong, effective competitors with significant market shares. These include, amongst others, Honeywell , UTC, BAe, Argo-Tech, Parker, Liebherr, Raytheon, Boeing, GE and Smiths." The Commission also looked into the vertical integration of TRW ASG's actuation businesses into Goodrich's thrust reverser and landing gear business. It concluded that there is no danger of foreclosure in any of the markets concerned, which feature competition between alternative sources of supply.