The European Commission has imposed fines
totalling € 67 644 000 on seven companies – ABB, AREVA T&D,
ALSTOM, Fuji Electrics, Hitachi and Toshiba - for violating the EC Treaty’s ban
on cartels and restrictive business practices (Article 81). Siemens also
participated but was not fined because it revealed the existence of the cartel
in question to the Commission. Between 1999 and 2003, Japanese and European
producers of power transformers operated an oral market sharing agreement,
referred to as a "Gentlemen's Agreement", where they agreed that the Japanese
members would not sell power transformers in Europe and that the European
members would not sell power transformers in Japan. The power transformers in
question are used to modify the voltage in electricity transmission networks.
The fine for ABB was increased by 50% because it had previously taken part in a
similar infringement.
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