KONE Oyj

The European Commission found that KONE group companies participated in cartels for elevators and escalators in Belgium, Germany, Luxembourg and the Netherlands. The arrangements included bid rigging, price fixing, project allocation, market sharing and exchanges of confidential commercial information. In 2007 the Commission imposed total fines of about EUR 142.12 million on KONE. KONE challenged the decision, but the EU courts ultimately upheld the fines. Sources: https://www.kone.com/en/news-and-insights/releases/kone-to-appeal-the-european-commissions-decision.aspx and https://curia.europa.eu/site/upload/docs/application/pdf/2013-10/cp130142en.pdf