EC Gives Green Light to PC Monitor Venture

BRUSSELS (04/04/2000) - The European Commission today gave its approval for NEC Corp. and Mitsubishi Electric Corp. to go ahead with their plans to create a joint venture PC monitor company. The new venture will be called NEC-Mitsubishi Electric Visual Systems Corp.

In Europe, the joint venture will operate through a subsidiary located in Munich with plans to establish a network of subsidiaries in France, Germany and the U.K. Production of the PC monitors will take place in factories operated by the joint venture's parent companies in Japan and Mexico, according to the Commission.

The Commission gave the go-ahead to the venture after determining that the combined market shares of NEC and Mitsubishi in the PC monitor market as a whole is below 15 percent, so the joint venture will not lead to a foreclosure of the market, according to a Commission statement.

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