Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Agricultural Development Bank of China
dpa

HOME > dpa

Altmaier grants approval for SME joint venture

August 21, 2019


Abstract : Germany's Minister of Economics Peter Altmaier, a member of the Christian Democrats (CDU), has granted ministerial approval for a planned joint venture between Miba and Zollern for the manufacture of plain bearings, subject to conditions.

Germany's Minister of Economics Peter Altmaier. (picture alliance/dpa)

Germany's Minister of Economics Peter Altmaier, a member of the Christian Democrats (CDU), has granted ministerial approval for a planned joint venture between Miba and Zollern for the manufacture of plain bearings, subject to conditions. Altmaier said on Monday that the venture was important for the energy turnaround and environmental goals. Such a permit is only granted in exceptional cases, when it is in the public interest. Altmaier said that in this case there was an overwhelming public interest and, at the same time, it helped to maintain a competitive SME sector.

The approval is subject to the condition that the joint venture for plain bearings must be operated jointly for at least five years. There is also an investment requirement of 50 million euros.

The metal processor Zollern from Sigmaringen in Baden-Württemberg and the Austrian auto parts manufacturer Miba had applied for ministerial approval for a joint venture for the production of plain bearings. The Federal Cartel Office had previously prohibited the planned merger - because the companies were very strongly positioned, especially in the area of plain bearings for large engines.

Altmaier said that it hadn't been an easy decision. However, plain bearings are a central part of the value chain of products that play an important role in the transformation of energy systems, such as wind turbines or modern gas turbines.

Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.

Scan the QR code and push it to your mobile phone

Keyword: SME Germany

Reading:

China becomes 6th largest goods export market for Ireland in H1

Number of German companies training refugees on the rise

New cargo train links east China with Hungary

Slight uptick in German inflation rate in July

Germany's Agriculture Minister rejects plastic bag ban

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial