RMIG pulls acquisition plan
WARRINGTON perforated metals business RMIG has scrapped its planned acquisition of a West Midlands-based rival.
RMIG was planning to buy Ash & Lacy Perforators, a move that was referred to the Competition Commission.
The commission said today that it had pulled its inquiry after learning that RMIG had abandoned the deal.
According to the Office of Fair Trading RMIG and Ash & Lacy are the two largest manufacturers and suppliers of perforated metal in the UK. The OFT feared the deal could allow RMIG to manipulate the market by increasing prices or reducing output.
RMIG, headquartered in Denmark, is the world’s largest manufacturer of perforated metal which is used in washing machine drums and satellite dishes as well as industrial applications. No one at the company could be reached for comment.
