German steel producer ThyssenKrupp has announced that on Thursday, June 5 Germany's Federal Cartel Office imposed a fine of €103 million on its Essen-based subsidiary ThyssenKrupp GfT Gleistechnik GmbH in the so-called rail cartel case.
The Federal Cartel Office has been conducting investigation proceedings against several companies in the domestic rail equipment sector for over a year, regarding allegations of anticompetitive agreements in sections of the rail business in Germany.
The investigation covered deliveries of steel to German national rail operator Duetsche Bahn. Notices of fines were also issued against other companies besides ThyssenKrupp GfT Gleistechnik.
ThyssenKrupp's full cooperation with the investigating authorities and transparency towards customers were taken into account as extenuating factors in ThyssenKrupp's favor in the calculation of the fine.