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Image header Agence Europe
Europe Daily Bulletin No. 8386
Contents Publication in full By article 24 / 38
GENERAL NEWS / (eu) eu/competition

Commission authorises Timken to acquire Ingersoll-Rand activities (industrial equipment)

Brussels, 24/01/2003 (Agence Europe) - The European Commission has authorised Timken, an international producer of anti-friction bearings, to acquire Torrington, which is active in the same sector as well as in that of special automotive equipment. Torrington, which is a fully owned Ingersoll-Company Ltd subsidiary, is a company that operates in several industrial sectors. The Commission has examined the impact that the operation would have on competition. It noted that the companies operate in different market sectors and are not direct rivals for most kinds of bearings. Timken is specialised more in "tapered roller bearings" whereas Torrington mainly manufactures "needle roller bearings". Customers cannot easily substitute one type of bearing for another. The operation will not therefore have a great impact on customers' choice of suppliers for a given product.

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