The European Union Commission approved a joint venture between
U.S. electronics concern Emerson Electric Co. and auto parts maker Dana
Corp. to develop vehicle components. The companies are developing small
motors to control steering, stability and power for vehicles.
Dana, based in Toledo, Ohio, says its electric systems are cheaper,
more efficient and more environmentally friendly compared with older
mechanical and hydraulic systems.
The deal was approved under the commission's simplified
antitrust procedure. This clears mergers or acquisitions after one month
if no objections are raised.
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