La Cofece approves concentration of Infinity Engineered and Air Springs Mexico
The Federal Economic Competition Commission (Cofece) approved a concentration promoted by Infinity Engineered and Air Springs Mexico, among other companies, in the auto parts sector.
First of all, on September 1, 2020, Infinity Engineered Products, LLC (Infinity Engineered); Infinity Products Intermediate Holdings LLC (Infinity Products); Air Springs Mexico HoldCo LLC (Air Springs Mexico); EnPro Holdings, Inc. (EnPro Holdings); Coltec International Services Co. (Coltec); EnPro Luxembourg Holding Company S.a.r.l. (EnPro Luxembourg); Stemco Products, Inc. (Stemco Products, together with Infinity Engineered, Infinity Products, Air Springs Mexico, EnPro Holdings, Coltec and EnPro Luxembourg, the Notifiers), notified their intention to carry out a concentration.
The concentration is carried out in accordance with the provisions of article 90 of the Federal Law on Economic Competition (LFCE), through the Cofece Electronic Procedures System.
Cofece
The Commission is in charge of the prevention of concentrations whose object or effect is to diminish, damage or impede competition and free competition.
Likewise, it is empowered to challenge and sanction those concentrations and legal acts derived from them, whose object or effect is to diminish, damage or impede competition and free competition, in the production, distribution and commercialization of goods and services in the Mexican Republic.
Therefore, it may authorize concentrations that are not contrary to the process of competition and free competition in terms of the LFCE.
The notified operation consists of the acquisition, directly and indirectly, by Infinity Engineered, Air Springs Mexico and Infinity Products, of the business of design, production and sale of air springs for heavy vehicles, intensive use and vehicles commercial for professional use, as well as agricultural and industrial uses in North America, currently owned by EnPro Holdings, Coltec, EnPro Luxembourg and Stemco Products.
As a result of the operation, Infinity Engineered, Air Springs Mexico and Infinity Products will indirectly acquire a certain number of shares of the shares representing the capital stock of certain Mexican companies that have a manufacturing plant.
La Cofece does not need some information for confidentiality reasons.
