Gestamp Automocion has had its proposal cleared by the European Commission to acquire ThyssenKrupp Metal Forming (TKMF).

The Commission’s investigation confirmed the merged entity would continue to face competition from a number of other strong competitors and customers would still have sufficient alternative suppliers in all markets concerned.

The EC examined competitive effects of the proposed acquisition in affected markets for the manufacture and supply of structural chassis assemblies, foot controls, hinge systems and steel service centres used in the automotive industry as input for automotive components.

Its conclusion was the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.

Gestamp is active internationally in the supply of metal components, modules and systems for the automotive industry sector and has as its core business the automotive supply division Gestamp Automoción

TKMF is a group of companies active in the manufacture and supply of body and chassis stampings , as well as assemblies to the automotive sector.

The transaction was notified to the Commission on 10 June 2011.