German regulator fines companies $129M for colluding on railway track orders
Federal Cartel Office said ThyssenKrupp GfT Gleistechnik GmbH hit with biggest fine of $119.8-million
BERLIN—Germany’s antitrust regulator has fined eight companies a total of $129-million for colluding on orders for railway tracks and related products.
The Federal Cartel Office said ThyssenKrupp GfT Gleistechnik GmbH, a unit of steelmaker ThyssenKrupp AG, was hit with the biggest fine—$119.8-million.
The fines cover alleged collusion between 2001 and 2011.
The cartel office last year hit four companies, including the ThyssenKrupp unit, with a first round of fines totalling $183.2-million over accords at the expense of Germany’s main railway operator, Deutsche Bahn.
The latest punishment involves alleged agreements at the expense of other passenger and freight railway operators as well as construction companies.
The fines can be appealed.