Mergers: Commission clears acquisition of ZF TRW's Engineered Fasteners & Components business by Illinois Tool Works
European Commission - Daily News
Brussels, 15 June 2016
The European Commission has approved under the EU Merger Regulation the acquisition of the Engineered Fasteners & Components Business unit ("EF&C", Germany) of ZF TRW Automotive Holdings Corp. by Illinois Tool Works Inc. of the US.
ZF TRW develops and produces active and passive safety systems for motor vehicles. Its EF&C business manufactures plastic fasteners and plastic components for the automotive industry. Illinois Tool Works is a global manufacturer of a range of industrial equipment, including fasteners and plastic components for the automotive industry.
The Commission concluded that the proposed acquisition would raise no competition concerns given that a number of strong competitors will remain active on all markets concerned after the transaction. More information is available on the Commission's competition website, in the public case register under the case number M.7972.
(For more information: Ricardo Cardoso – Tel.: +32 229 80100; Giulia Komel – Tel.: +32 229 61175)
Source: Europa.eu (Copyright European Commission)