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Mofcom approves STEP Electric, Huitong Automation deal

( January 19, 2016, 02:28 GMT | Official Statement) -- MLex Summary: China’s Ministry of Commerce has approved the proposed acquisition of Shanghai Huitong Automation Technology Development by Shanghai STEP Electric, the acquirer said today. STEP Electric manufactures and sells elevator control systems, inverters and other elevator components. Huitong distributes servo motors produced by Panasonic. The deal was publicized for a simple case review on Dec. 18.Mofcom's statement is attached....

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