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European Commission Spokesman's Briefing for 99-04-07

Midday Express: News from the EU Commission Spokesman's Briefings Directory - Previous Article - Next Article

From: EUROPA, the European Commission Server at <http://europa.eu.int>

MIDDAY EXPRESS

News from the Spokesman's midday briefing

Nouvelles du rendez-vous de midi du Porte-Paroleb

07/04/99


CONTENTS / CONTENU

  • [01] EU-US banana dispute
  • [02] Feu vert à l'acquisition d'Aeroquip-Vickers Inc. par Eaton Corporation
  • [03] Commission approves takeover of GEA by Metallgesellschaft

  • [01] EU-US banana dispute

    Sir Leon Brittan, Vice President of the European Commission, issued the following statement after receipt from the World Trade Organisation of the reports on European Union (EU) banana import rules : "We will carefully study both the arbitrator's report and the two panel reports and of course meanwhile reserve our right of appeal. We will naturally abide by the rules applicable in the case of such decisions, as we have consistently said we would. It is, however, already clear from the arbitrator's report that the unilateral US retaliation currently in place against EU exports has been and remains largely illegal, as it is set at a level well over double that determined by the arbitrator. To comply with the law the US must now in any event immediately end sanctions and the threat of sanctions on over half the trade currently subject to them."

    [02] Feu vert à l'acquisition d'Aeroquip-Vickers Inc. par Eaton Corporation

    La Commission européenne a approuvé le rachat d'Aeroquip-Vickers, Incorporated (Aeroquip-Vickers) par Eaton Corporation (Eaton). Eaton fabrique au niveau mondial des équipements électriques et électroniques de distribution et de commande, des pièces de moteurs, des produits hydrauliques ainsi que des systèmes de défense pour l'industrie aérospatiale, l'industrie automobile et d'autres industries. Aeroquip- Vickers fabrique et distribue des pièces usinées pour l'automobile, l'aérospatiale et d'autres industries. Ces deux entreprises sont américaines.

    [03] Commission approves takeover of GEA by Metallgesellschaft

    The European Commission has approved the takeover of GEA AG, Bochum, by Metallgesellschaft (MG), Frankfurt, which will acquire 74.85% of GEA's ordinary shares and will incorporate GEA into its engineering activities (Lurgi AG), where turnover will increase from just under DEM 5 billion to almost DEM 10 billion. Since Lurgi builds integrated plants and GEA manufactures components, systems and production lines, their activities do not overlap but represent a vertical integration of engineering and production.

    MIDDAY EXPRESS


    From EUROPA, the European Commission Server at http://europa.eu.int/
    © ECSC - EC - EAEC, Brussels-Luxembourg, 1995, 1996


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