Engineering groups charged with running cartel

Article reports that the European Commission has charged some of the world’s largest engineering groups – including Siemens, ABB and Toshiba – with running a cartel in Europe’s multi-billion euro power transformer market.

The European Commission itself confirmed that it had sent a Statement of Objections to a number of producers of power transformers, concerning their alleged participation in a cartel in violation of EU rules on restrictive business practices (Article 81 of the EC Treaty and Article 53 of the Agreement on the European Economic Area).

European Commission: MEMO/08/783: Antitrust: Commission confirms sending Statement of Objections to alleged participants in power transformers cartel http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/08/783&format=PDF&aged=0&language=EN&guiLanguage=en

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