Mergers: EU Commission clears acquisition of joint control of TB Kawashima Automotive Textile (India) by Aunde Group and Toyota Boshoku
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control over TB Kawashima Automotive Textile (India) of India by Aunde Group SE (“AUNDE”) of Germany and Toyota Boshoku Corporation (“Toyota Boshoku”) of Japan via its subsidiary TB Kawashima Co. Ltd. (“TBK”) of Japan.
TB Kawashima Automotive Textile (India) manufactures and distributes interior textiles and fabrics for the automotive industry in India and in neighbouring countries. Before the transaction, it was controlled solely by Toyota Boshoku.
AUNDE is active in the development and production of automotive products including yarns, technical textiles, seat covers and foam parts under the brands AUNDE, ISRINGHAUSEN and FEHRER for original equipment manufacturers (OEMs) and suppliers to the automotive industry in Europe and worldwide.
Toyota Boshoku is active inthe development and production of various types of automotive components, including automotive textiles. TBK is active in the development, production and supply of various types of automotive textiles and interior fabrics, particularly in Asia.
The Commission concluded that the proposed acquisition would raise no competition concerns, given that TB Kawashima Automotive Textile (India) will have no or negligible activities in the European Economic Area. The transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.9797.
Arianna Podesta –