The ACCC will not oppose Danfoss A/S's (Danfoss) proposed acquisition of Eaton Corporation plc's hydraulics business (Eaton Hydraulics).
Danfoss and Eaton Hydraulics are global suppliers of hydraulics systems and components, including hydraulic motors, valves, pumps, steering units and other products for use in on-road and off-road vehicles.
In Australia, their products are supplied through distributors, and directly to original equipment manufacturers.
"Following the proposed acquisition, Danfoss and Eaton would continue to face strong competition from Bosch Rexroth, Parker Hannifin, M+S and other overseas suppliers," ACCC Commissioner Stephen Ridgeway said.
"All hydraulics systems and components are imported into Australia. Market participants did not identify any products for which other imports are not readily available."
"Given the information we obtained and feedback from the market, we concluded that this transaction would not substantially lessen competition in any relevant hydraulics market," Mr Ridgeway said.
Further information is available at Danfoss A/S - Eaton Hydraulics.
Background
Danfoss is a major supplier of power and control systems, with its hydraulic products used in various industries including agriculture, construction, manufacturing and mining. It is headquartered in Denmark.
Eaton Corporation is a diversified industrial manufacturer with corporate headquarters in Ireland and operation headquarters in the USA. They are active in hydraulics, electrical, vehicle, aerospace and filtration. The proposed acquisition is limited to Eaton's hydraulic business segment.
