BIZCHINA / Biz Media Digest
Light Industry: Supor: No monopoly
(China Daily)
Updated: 2006-09-01 13:47
Zhejiang Supor Cookware Co, China's leading producer of kitchen
appliances, said yesterday a planned takeover by SEB SA of France will
not result in a foreign monopoly as the market is fully competitive.
The company plans to sell a 61 per cent stake to SEB, while its
competitors ASD Group and five other cookware makers published a joint
statement asking the government not to approve the takeover, which they
say will create an industry monopoly with a serious negative impact on
consumers.
(For more biz stories, please visit Industry Updates)
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