UPDATE: EU Court Annuls Some Fines On Gas Insulated Switchgear Cartel
2011年7月12日 - 6:25PM
Dow Jones News
A European Court annulled fines imposed by the European
Commission on Japanese companies Mitsubishi Electric Corp.
(6503.TO) and Toshiba Corp. (6502.TO) for participating in a cartel
of gas-insulated switchgear products.
The General Court, the European Union's second highest court,
confirmed the EUR50.4 million imposed on Hitachi Ltd. (HIT), it
said in a statement.
The Court upheld the commission's decision that the companies
participated in a cartel, but annulled some of the fines because
the commission used the wrong method in calculating them, it
said.
"In so far as the commission did not use the same reference year
for Mitsubishi Electric and Toshiba [for which it used 2001] and
the European undertakings [for which it used 2003], the Court finds
that the commission did not treat the Japanese producers and the
European producers equally. "The commission infringed the principle
of equal treatment and annuls the fines imposed on the two
companies concerned," it said in the statement.
In March, the same court upheld a EUR397 million fine levied
against German conglomerate Siemens AG (SI) for having operated in
the same cartel, but it reduced penalties imposed on Siemens
Austria subsidiaries and on French power generation firm Alstom
S.A. (ALO.FR) and nuclear giant Areva S.A. (AREVA.FR)
Gas insulated switchgear is heavy electrical equipment used to
regulate electricity flows within power grids. It is a major
component of power substations, where electrical current is
converted from high to low voltage, or vice-versa.
-By Alessandro Torello, Dow Jones Newswires; +32 2 741 14 88;
alessandro.torello@dowjones.com
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