European Commission - Press release
Mergers: Commission approves acquisition of ThyssenKrupp Metal Forming by Corporación Gestamp, both suppliers to the automotive sector
Brussels, 19 July 2011 - The European Commission has cleared under the EU Merger Regulation the proposed acquisition of ThyssenKrupp Metal Forming ("TKMF") of Germany by Gestamp Automoción, controlled by Corporación Gestamp S.L. of Spain. The Commission's investigation confirmed that the merged entity would continue to face competition from a number of other strong competitors and customers would still have sufficient alternative suppliers in all markets concerned.
The Commission examined the competitive effects of the proposed acquisition in the affected markets for the manufacture and supply of structural chassis assemblies, foot controls, hinge systems and steel service centres used in the automotive industry as input for automotive components. The Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.
Gestamp is active internationally in the supply of metal components, modules and systems for the automotive industry sector and has as its core business the automotive supply division Gestamp Automoción S.L.. TKMF is a group of companies active in the manufacture and supply of body and chassis stampings and assemblies to the automotive sector.
The transaction was notified to the Commission on 10 June 2011.
Merger control rules and procedures
The Commission, in 1989, was given the power to assess mergers and acquisitions involving companies with a turnover above certain thresholds (see Article 1 of the Merger Regulation). Its duty is to prevent concentrations that would significantly impede effective competition in the European Economic Area (EEA)1 or any substantial part of it.
The vast majority of mergers do not pose competition problems and are cleared after a routine review. From the moment a transaction is notified, the Commission generally has a total of 25 working days to decide whether to grant approval (Phase I) or to start an in-depth investigation (Phase II).
A non-confidential version of today's decision will be available at:
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