BELGIUM: JCI cleared for fabric supplier buy

By just-auto.com editorial team | 23 November 2010

Johnson Controls has won European Union regulatory approval to acquire Michel Thierry, a French vehicle interior fabric supplier.

JCI disclosed the takeover last month but did not provide financial details.

The European Commission said Johnson Controls, which makes car seats and other car components, was buying one of its main suppliers, Reuters reported.

"The commission's market investigation highlighted that, in view of credible alternative suppliers and customers, the parties will neither have the incentive nor the ability to close out non-integrated competitors from access to textiles or to manufacturers of interior components using textiles," the commission said in a statement.