ERJ staff report (DS)
Brussels - The European Commission has cleared under the EU Merger Regulation the proposed creation of Trelleborg Vibracoustic, a joint venture combining the automotive anti-vibration systems activities of Freudenberg of Germany and Trelleborg of Sweden. The Commission concluded that the proposed transaction would not raise competition concerns, in particular because a number of strong competitors will remain active on the market. As a result, customers will still have sufficient alternative suppliers in all the markets concerned.
The joint venture will operate in the development, production and sale of anti-vibration systems for automobiles on a worldwide basis. The activities of the parties overlap in the supply of anti-vibration systems for passenger cars and commercial vehicles. In particular, appreciable overlaps arise in relation to engine mounts, chassis mounts and torsional vibration dampers (TVD).
With this approval, Trelleborg and Freudenberg are able to start the last phase of preparations to bringing the joint venture to fruition. A formal closing of the transaction is estimated to take place in the beginning of the third quarter, 2012. Until the closing the parties will continue to run their respective business in the normal course of business and independently from each other. More information about the joint venture will follow once the closing of the transaction takes place.
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Press release from EU Commission
Press release from Trelleborg