thyssenkrupp AG

In February 2007, the European Commission imposed approximately €479.67 million in fines on ThyssenKrupp group entities for participation in elevator and escalator cartels. The Commission found that major elevator manufacturers had rigged bids, allocated projects, fixed prices and shared markets in Belgium, Germany, Luxembourg and the Netherlands. The infringements lasted for years and affected installation and maintenance contracts. ThyssenKrupp's penalties were increased because the group was treated as a repeat competition-law offender. Its total fine was the largest imposed on any group in the case. Source: European Commission https://ec.europa.eu/commission/presscorner/api/files/document/print/en/ip_07_209/IP_07_209_EN.pdf

In July 2012, Germany's Bundeskartellamt imposed a €103 million fine on ThyssenKrupp GfT Gleistechnik GmbH in the first part of its rail-cartel proceedings. The authority found that suppliers had maintained anti-competitive quota and price arrangements for rail products supplied to Deutsche Bahn. For normal rails, participating companies allocated projects, maintained agreed shares of Deutsche Bahn's purchasing volume and submitted protective bids designed to steer contract awards. The Bundeskartellamt said the relevant arrangements were practised from 2001 to 2008 and in some areas continued until 2011. The authority later imposed an additional €88 million fine on ThyssenKrupp GfT in a separate part of the rail-cartel proceedings concerning local public transport companies and other rail customers. Sources: Bundeskartellamt https://www.bundeskartellamt.de/SharedDocs/Meldung/DE/Pressemitteilungen/2012/05_07_2012_Schienenkartell.html Bundeskartellamt https://www.bundeskartellamt.de/SharedDocs/Meldung/DE/Pressemitteilungen/2013/23_07_2013_Schienen.html