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EU opens in-depth probe into tractor maker Alo's bid for MX
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10:04, June 10, 2008

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The European Union (EU) on Monday opened an in-depth probe into Swedish tractor maker Alo's bid for French peer MX, formerly known as Mailleux.

The European Commission, the EU's antitrust watchdog, said its initial market investigation found that the proposed acquisition raises serious doubts as to its compatibility with the EU competition rules as regards front loaders for tractors, where the two companies' activities overlap significantly.

Front loaders are devices which can be attached to the front end of tractors to handle or lift various kinds of materials.

"We must ensure that farmers, and ultimately all consumers of farm products, are not harmed by higher prices and less choice as a result of the proposed merger," said EU Competition Commissioner Neelie Kroes.

Alo is a Swedish industrial group and the leading manufacturer of front loaders and implements for farm tractors. Alo sells its products under the three brands Quicke, Trima and Veto across various European countries and in North America.

MX is a major French producer of equipment for tractors and particularly front loaders. It sells its loaders under the MX brand across Europe and under the Chillton brand in Britain.

Source:Xinhua



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