EU Clears Emerson-Dana Joint Venture
February 13, 2003 by Jeff Shepard
The European Union (EU, Brussels, Belgium) Commission has approved a joint venture between Emerson Electric Co. (St. Louis, MO) and auto parts maker Dana Corp. (Toledo, OH) to develop vehicle components. The deal was approved under the commission's simplified antitrust procedure, which clears mergers or acquisitions after one month if no objections are raised. The companies are developing small motors to control steering, stability and power for vehicles. Dana claims that its electric systems are cheaper, more efficient and more environmentally friendly compared with older mechanical and hydraulic systems.