Ad Hoc Releases, 2007-02-21, 01:52 PM
EU Commission imposes fines for infringement of competition regulations by ThyssenKrupp in elevator and escalator business
The EU Commission today gave us advance notification that it has imposed fines of € million 479.67 in total on ThyssenKrupp AG, ThyssenKrupp Elevator AG and the elevator companies in the countries concerned. The companies are accused of reaching price fixing agreements for elevators and escalators. These agreements were made at national level in the Benelux countries and Germany.
ThyssenKrupp has not yet received official notice of the fine; for this reason, the level of the fines and whether they are justified cannot yet be fully assessed. A ThyssenKrupp legal team will review the fine notice and then decide whether to appeal.