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EU Approves GE Purchase of Agfa Division
Dec 5, 2003
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European Union (EU) anti-trust regulators approved General Electric Co.'s (GE) $480-million purchase of Agfa Gevaert NV's materials testing division after GE offered to sell its own ultrasound subsidiary, Panametrics, to a Canadian rival.

The European Commission said on Dec. 5 it was "satisfied with the solution," because the proposed buyer, R/D Tec, "is an experienced player" in the European testing market. No price was announced.

Fairfield, CT, U.S.-based GE bought the nondestructive testing business from Belgium's Agfa in January for 400 million euros. The unit makes X-ray machines that test everything from airplane wings to cheese to ensure safety and quality.

The Commission said it coordinated its review with the U.S. Federal Trade Commission, whose own review is continuing. (Associated Press)

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