Press Release: Mergers: Commission clears takeover of bearing manufacturer SNFA by competitor SKF

The European Commission on 2 June 2006 approved, under the EU Merger Regulation, the proposed acquisition by Sweden-based Aktiebolaget Svenska Kullagerfabriken ('SKF') of French company SNFA S.A.S. ('SNFA'). Both companies manufacture anti-friction bearings. As the combined entity was to continue to face strong competition from major bearing manufacturers, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any significant part of it.