EU clears Toshiba-Mitsubishi joint venture

Newswire

BRUSSELS, Sept 18 (Reuters) - European Union competition authorities cleared a joint venture between Toshiba Corporation and Mitsubishi Electric Corporation on Thursday. The planned joint venture, named Toshiba Mitsubishi Electric Industrial Systems Corporation, will produce factory electric and automation systems. The deal was approved under the European Commission's simplified procedure for cases where customers and competitors do not object.

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