|
contents | business | |||||||||
| ABB receives German Federal Cartel Office’s decision in power transformer investigation Zurich-based ABB confirmed that the German Federal Cartel Office (Bundeskartellamt) has announced its decision ending its investigation into anticompetitive practices in the German power transformer business, which occurred prior to April 2004. The German Federal Cartel Office imposed a fine on ABB's German subsidiary, ABB AG, of € 8.7 million (approximately $ 11.3 million). This decision, which follows a settlement with that Office, will not have a material impact on ABB's financial results for the third quarter. This procedure, which was first disclosed several years ago, is separate from the investigation into the European impact of certain other anti-competitive practices in the power transformer business for which the European Commission issued its decision in October 2009. write your comments about the article :: © 2012 Construction News :: home page |