Member access

4-Traders Homepage  >  Shares  >  Xetra  >  ThyssenKrupp AG    TKA   DE0007500001

THYSSENKRUPP AG (TKA)

75
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 

German Cartel Office Issues First Fines in Rail Cartel Probe

07/05/2012 | 05:13am US/Eastern
Recommend:
0

By Monica Houston-Waesch

Germany's cartel office Thursday issued fines totaling 124.5 million euros ($156.5 million) to companies in a rail cartel probe.

The fines relate to the initial part of the investigation into whether manufacturers made cartel agreements on the supply of rail to Germany's Deutsche Bahn, to the disadvantage of the railway company. The fines aren't legally binding and may be appealed.

ThyssenKrupp AG (>> ThyssenKrupp AG) unit ThyssenKrupp GfT Gleistechnik GmbH was fined EUR103 million, Vossloh AG unit Stahlberg Roensch GmbH was fined EUR13 million, and two units of Austrian steelmaker voestalpline AG (VOE.VI) were fined a total of EUR8.5 million.

"This case shows anew that public tenders require strong scrutiny," the office said in a statement.

In a statement, voestalpine said its fine would have been several times higher without its prompt cooperation in the probe.

ThyssenKrupp said it would accept the fine to settle this part of the case, and that investigations are still underway regarding two other product areas. The company has made a provision of EUR30 million for the remainder of the probe, it said in a statement.

The cartel office said it would expand the investigation to other areas, including the supply of rail to regional and local railways.

Write to Monica Houston-Waesch at nikki.houston@dowjones.com

Stocks mentioned in the article : ThyssenKrupp AG
Recommend :
0
React to this article
Latest news on THYSSENKRUPP AG
1d ago THYSSENKRUPP : and Saab in talks over sale of Swedish shipyard activities Thysse..
3d agoDJTHYSSENKRUPP : Correction to ThyssenKrupp Story on April 1
5d ago THYSSENKRUPP : Building spree has UAE lift sales rising
5d ago ThyssenKrupp in talks to sell Swedish naval shipyard to Saab
5d ago THYSSENKRUPP : and Saab in talks over sale of Swedish shipyard activities Thysse..
5d agoDJSAAB : in Talks to Buy ThyssenKrupp's Swedish Shipyard
5d ago SAAB : and ThyssenKrupp have signed a MoU on an acquisition of ThyssenKrupp Mari..
6d ago THYSSENKRUPP : to build $55.5mn German test tower
04/11 THYSSENKRUPP : 'Jugend forscht' youth science competition, Three first places fo..
04/11 THYSSENKRUPP : fosters elevator technology development by building landmark test..
Advertisement
Chart
Duration : Period :
ThyssenKrupp AG Technical Analysis Chart | TKA | DE0007500001 | 4-Traders
Income Statement Evolution
ThyssenKrupp AG : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF