The European Commission issued a notice saying that it has approved the establishment of a joint venture between Rheinland AG and China Zhejiang Yinlun Machinery Co., Ltd.
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Rheinmetall AG, Zhejiang Yinlun Machinery, exhaust gas recirculation cooling module, Rheinland Metals AG, Zhejiang Yinlun Machinery, exhaust gas recirculation cooling module
The joint venture will be principally engaged in research and development, production and sales of exhaust gas recirculation cooling modules in China, as well as technical and after-sales services.
The European Commission believes that since the main business of the joint venture is not in the European Economic Area, it does not raise concerns about restricting competition. The European Commission approved the transaction through a simplified review process.
In early December 2016, TÃœV Rheinland signed a cooperation agreement with Zhejiang Yinlun Machinery Co., Ltd. through its subsidiary Pilberg, and the two parties intend to jointly invest in establishing a joint venture company in Shanghai.
Rheinmetall AG manufactures and supplies defense equipment and automotive components such as exhaust gas recirculation valves and modules. Zhejiang Yinlun Machinery Co., Ltd. manufactures and supplies automotive components such as exhaust gas recirculation coolers.
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