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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