August 20 (SeeNews) - Romania's competition authority said on Friday that it has approved the takeover of the local acoustic systems and soft upholstery division of French auto parts maker Faurecia by German automotive group Adler Pelzer.
"Following a review of the transaction, the Competition Council has found that it does not raise significant obstacles to effective competition in the market, in particular by establishing or strengthening of a dominant position," the anti-trust body said in a statement.
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The Faurecia Group is a global supplier in the automotive industry, producing systems with a wide use in the automotive industry. Faurecia carries out activities on the Romanian market through Faurecia Romania, a company specialised in the production of interior components for vehicles, car seats and clean mobility, with five local factories.
The Adler Pelzer Group develops, manufactures and supplies systems for the acoustic and thermal comfort of vehicles. The group is present in Romania through its subsidiary Adler Pelzer Automotive Romania, whose main business is the manufacture of parts and accessories for vehicles.