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Article: Japan : ABB, Toshiba Among Cartel Fined $99 Million by EU.
- Article from:
- TendersInfo
- Article date:
- October 8, 2009
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ABB Ltd. and Toshiba Corp. were among six companies fined a total of 67.6 million euros ($99 million) by the European Union over claims they divided the European and Japanese markets for electric-power transformers.
ABB received the biggest individual fine of 33.75 million euros, followed by France s Areva SA, which together with French engineering company Alstom SA, was fined 16.5 million euros, the Brussels-based European Commission said today in a statement. Hitachi Ltd. and Fuji Electric were also fined. Siemens AG escaped a 33.4 million-euro penalty for helping uncover the cartel.
This latest decision once again confirms the commission s zero ...