E.C. Flattens Elevator Makers With €992M Fine

Law360, New York (February 21, 2007, 12:00 AM EST) -- The European Commission has outdone itself, levying its highest antitrust fine ever of €992 million against four elevator and escalator makers for their alleged participation in a price-fixing conspiracy.

On Wednesday, the E.C.’s antitrust authority smacked ThyssenKrupp AG and three others with nearly a €1 billion collective fine for their anti-competitive behavior in the elevator and escalator market.

“It is outrageous that the construction and maintenance costs of buildings, including hospitals, have been artificially bloated by these cartels,” said Competition Commissioner Neelie Kroes. "The national management...
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