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EC Statement: Mergers - Commission approves acquisition of automotive textile manufacturer Michel Thierry Group by automotive supplier Johnson Controls

( November 23, 2010, 08:20 GMT | Official Statement) -- MLex Summary: The European Commission has cleared the acquisition of Michel Thierry Group, a manufacturer of automotive textiles, by Johnson Controls, a supplier of automotive components and systems.The European Commission has approved under the EU Merger Regulation the acquisition of Michel Thierry Group (MTG), a manufacturer of automotive textiles, by Johnson Controls Inc. (JCI), a supplier of automotive components and systems. The Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it. MTG is a manufacturer of automotive textiles based in France. Its products are mainly used for car seats but also for other car interior parts such as door panels. The automotive business of US based JCI includes the manufacturing of car seat components, the assembly of complete seats and the production of other interior car components such as door panels or headliners. The parties supply car manufacturers and, in the case of Michel Thierry Group, also so-called Tier 1 (direct) suppliers, such as JCI. As a result of the planned transaction, JCI will acquire one of its main suppliers of automotive textiles....

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