PROMATECH
July 1st, 2002
ALAN OSBORNTHE EUROPEAN Commission has cleared the acquisition by the Italian weaving machinery manufacturer Promatech SpA, of Sulzer Textil, the textile machinery division of the Swiss company Sulzer Ltd.Competition approval was given after Promatech agreed to divest itself of rapier weaving machines operations in Verona in Italy and Solothurn in Switzerland. The Commission said that without these divestitures Promatech would have dominated the western European market for rapier weaving machines "with a very high market share," potentially raising prices for the ...
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