EU Set To Fine Power Transformer Makers Over Cartel

Law360, New York (October 6, 2009, 6:16 PM EDT) -- The European Commission is reportedly poised to issue fines against a group of power transformer manufacturers for participating in an industry cartel.

The antitrust watchdog of the European Union was set to hand down the penalties as early as Wednesday, according to Reuters, which cited an unnamed source close to the matter.

EC spokesman Jonathan Todd did not immediately respond to requests for confirmation of the plans.

In December, the commission charged a number of electrical transformer makers, reportedly including Japan's Toshiba Corp., Germany's Siemens AG,...
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