Commission authorizes telecommunications joint venture between Ericsson and Raychem
LM Ericsson AG (Sweden) and Raychem Corporation (USA) have jointly notified the Commission of an agreement by which they will create a joint venture. The joint venture will substantially incorporate all the activities and assets of Raynet Corporation, a wholly owned subsidiary of Raychem prior to the operation. Ericsson is one of the major players worldwide in the manufacturing and selling of telecommunications systems and equipment. Raychem develops and sells high-performance industrial products used by the aerospace, automotive, electronic and telecommunications industries and Raynet activities concern the manufacturing and selling of fibre optic transmission systems for accessing telecommunications networks.