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| ABB to review EC’s decision in power transformer investigation Swiss engineering firm ABB confirmed that the European Commission has announced its decision on alleged anti-competitive practices in the power transformer business. The European Commission imposed a fine of € 33.75 million on ABB. In December 2008, ABB announced that it had booked provisions relating to this and other compliance, tax, and restructuring matters. In connection with its third quarter reporting process, ABB will assess what impact this decision and any other recent developments will have on those provisions and on its financial results for the quarter. write your comments about the article :: © 2009 Construction News :: home page |