Europese Commissie keurt fusie Cherry Corporation en ZF Friedrichshafen AG goed (en)

The European Commission has approved under the EU Merger Regulation the proposed acquisition of Cherry Corporation, a US-based manufacturer of electronic components in particular for the automotive industry, by ZF Friedrichshafen AG, a German supplier of driveline and chassis technology. The Commission concluded that the transaction would not significantly impede effective competition within the European Economic Area (EEA) or a substantial part of it.

ZF Friedrichshafen AG ("ZF") is a worldwide automotive supplier for driveline and chassis technology. The range of ZF products includes transmissions, steering systems, and chassis components as well as complete axle systems and modules.

Cherry Corporation ("Cherry") manufactures and sells on a worldwide basis keyboards, switches and sensors, as well as electronic components, particularly for the automotive industry.

ZF and Cherry are only marginally active in the same markets. Cherry sells some electronic components, such as position sensors, which are used as inputs for a variety of applications, including transmission systems, steering systems and chassis systems for the automotive industry. ZF is active in some of these markets. Position sensors are devices that enable position measurement (distances or angles). In cars, position sensors are used for example to detect the position of the gearshift or to identify the steering angle.

The Commission's market investigation showed that the merged entity would not be in a position to increase the cost or limit access to position sensors for other driveline and chassis manufacturers given that numerous alternative sources for these products are available to these companies. Besides, ZF's position and sensor requirements being relatively modest, the merged entity would not be able to affect competition on the market for position sensors by reducing its purchases from Cherry's competitors.

More information on the case will be available at:

http://ec.europa.eu/comm/competition/mergers/cases/index/m104.html#m_5244