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.
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