Schindler Fined €143.7 Million in EU Elevators and Escalators Cartel
Company: Schindler Holding AG
Summary
In February 2007, the European Commission fined the Schindler group as part of a €992 million enforcement action against elevator and escalator cartels in Belgium, Germany, Luxembourg and the Netherlands. The Commission found that companies rigged bids, fixed prices, allocated projects, shared markets and exchanged commercially sensitive information between at least 1995 and 2004. Schindler challenged the decision, but the EU courts rejected its appeals; the Court of Justice dismissed Schindler's final appeal in July 2013. Sources: European Commission https://ec.europa.eu/commission/presscorner/api/files/document/print/en/ip_07_209/IP_07_209_EN.pdf EUR-Lex https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:62011CJ0501