Siemens Kronzeugenstatus in EU antitrust decision on transformer
Munich – The technology group Siemens AG (ISIN DE0007236101 / WKN 723610) announced on Wednesday that the European Commission in its decision today on the so-called transformer from an antitrust fine against Siemens AG (Xetra: 723610 – news) has apart.
There were indications that the company had significantly contributed to the discovery of this cartel, and could thereby obtain the Kronzeugenstatus.
Between 1999 to 2003 it was based on findings from the European Commission
come to agreements on the division of markets among European and Japanese producers of so-called high-efficiency transformers. With these transformers, the voltage can be changed in order to transfer energy over longer distances can. Siemens had launched after the announcement of charges in February 2007 its own investigation and immediately suspended the staff involved in the violations of the former Siemens’ Power Transmission and Distribution and an Austrian subsidiary, it said.