EU fines 3 European, 3 Japanese makers of power transformers €67.6 million for cartel
By APWednesday, October 7, 2009
EU fines European, Japanese makers for cartel deal
BRUSSELS — The European Union says it its fining three European and three Japanese makers of power transformers a total of euro67.6 million for agreeing not to sell their in each other’s markets.
EU antitrust chief Neelie Kroes said Wednesday their “gentlemen’s agreement” artificially hiked prices.
The EU fined three European companies — ABB of Switzerland and Alstom SA and Areva T&D SA of France — and three Asian — Fuji Electrics, Hitachi and Toshiba.
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