Want China Times
Date: 2015-09-20
By: CNA
Taiwan’s Fair Trade Commission (FTC) has issued a greenlight to allow Teco Electric &
Teco Electric & Machinery’s factory in Wuxi, Jiangsu province. (Photo/Chen Man-nung)
Machinery, one of Taiwan’s leading industrial motor suppliers, to acquire Italy-based Motovario.
In a statement, the FTC said that the acquisition planned by Teco is not expected to impose any adversary impact on market competition in Taiwan as buyers here have options to choose other industrial motor suppliers locally.
At the end of July, Teco announced that it will buy a 100% stake in Motovario, an Italian power transmission system maker, for €186 million (US$199 million).
Founded in 1965, Motovario produces large gear reducers, motors and other power transmission products, with particular focus on worm gears for which it is a global player. [FULL STORY]