Germany Fines Siemens, Others €24.3M For Collusion

Law360, New York (September 20, 2012, 4:22 PM EDT) -- Germany's Federal Cartel Office on Thursday smacked Siemens AG, Alstom SA, ABB AG and Starkstrom-Geraetebau GmbH with €24.3 million ($31.45 million) in fines after a cartel investigation revealed purported collusion by the companies in the German power transformer sector.

The antitrust watchdog, or Bundeskartellamt, said that from early in 1999 to March 2004, the power transformer manufacturers engaged in bid-rigging and entered into a series of anti-competitive agreements.

The president of the cartel office, Andreas Mundt, said that during the period in question, the companies sought...
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