ThyssenKrupp, Others Fined €98M In German Rail Cartel Probe

Law360, New York (July 23, 2013, 2:28 PM EDT) -- Germany's competition watchdog on Tuesday handed down €97.64 million ($128.7 million) in fines against several companies, including a ThyssenKrupp AG unit, found to have rigged bids on products supplied to local, regional and industrial railway operators.

The fines, which include €88 million against ThyssenKrupp GfT Gleistechnik GmbH and €6.4 million against Voestalpine BWG GmbH, grew out of a broad investigation by the German Federal Cartel Office into an alleged rail cartel. Tuesday's action penalizes several companies for rigging bids on rails, switches and sleepers supplied to...
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