Mannesmann, A.G., a German firm, has petitioned the Federal Trade Commission to delete a provision in a 1992 order requiring the company, until 2002, to obtain the FTC's approval before acquiring an interest in any entity that manufactures and sells high-speed, light-to-medium duty conveyor systems in the United States.
Mannesmann filed the petition pursuant to the Commis- sion's prior-approval policy, under which the Commission has adopted a rebuttable presumption that the public interest re- quires deleting prior-approval provisions in outstanding merger orders.
Mannesmann's petition will be subject to public comment for 30 days, until Aug. 7.
The 1992 consent order settled FTC allegations that Mannesmann's acquisition of Rapistan Corporation would violate antitrust laws by substantially decreasing competition in the U.S. market for high-speed, light-to-medium duty conveyor systems. To remedy the alleged antitcompetitive effects, the order required Mannesmann to divest its Cincinnati, Ohio-based subsidiary, The Buschman Company. The Commission approved the divestiture of Buschman to Alvey, Inc., of St. Louis, Missouri, in October 1992. The order also includes the prior-approval provision now at issue.
Comments on the petition should be addressed to the FTC, Office of the Secretary, 6th Street and Pennsylvania Avenue, N.W., Washington, D.C. 20580.
Copies of the petition, as well as other documents associated with this case, are available from the FTC's Public Reference Branch, Room 130, 6th Street and Pennsylvania Avenue, N.W., Washington, D.C. 20580; 202-326-2222; TTY for the hearing impaired 1-866-653-4261. To find out the latest FTC news as it is announced, call the FTC's NewsPhone recording at 202-326-2710. FTC news releases and other materials also are available on the Internet at the FTC's World Wide Web Site at: http://www.ftc.gov
(FTC Docket No. C-3378)