EU Clears Itema's Proposed Acquisition of BarcoVision

The European Commission gave the green light Monday to a proposed acquisition of Belgian imaging technology group Barco's BarcoVision textile unit by Italy's Itema.

After an in-depth examination launched in April 2008, the commission, the European Union (EU)'s antitrust watchdog, concluded that the transaction would not significantly impede effective competition within the EU.

Itema produces textile machinery, and is active in the production and sale of machinery for textile manufacturing. It is one of the three main companies supplying textile mill owners with winders, which are machines used to stock yarn before it is woven or knitted.

BarcoVision focuses on the production and sale of sensors for textile machinery as well as software systems specifically designed for the textile industry. It is one of the two main companies currently producing sensors for winders, an essential component of the winder to ensure yarn and textile quality.

Itema and BarcoVision are both key players in the textile production chain; this merger will bring together a major textile machine manufacturer with one of its sensor suppliers, said EU Competition Commissioner Neelie Kroes.

We looked at this very carefully, but it is now clear that this deal will have no negative consequences on textile quality or prices, she added.

Source: CRIEnglish