JAPAN SUMITOMO VOLKSWAGEN DEAL GERMANY EUROPEAN COMMISSION
April 1st, 2006
BY JULIAN RYALL, in Tokyo
OSAKA, Japan-based Sumitomo Electrical Industries Ltd has got a foot in the door of the German automobile wiring harness market with its purchase of Volkswagen Bordnetze GmbH.
Approved by the European Commission, using its authority over international mergers affecting Europe, the cost of the deal is not being announced, but the Japanese company believes the acquisition will allow it to broaden its business throughout Europe.
"Volkswagen Bordnetze supplies nearly half of all the wiring harnesses used by Volkswagen and because the ...
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