TITLE

Elevating Profits

AUTHOR(S)
Mokhiber, Russell
PUB. DATE
January 2007
SOURCE
Multinational Monitor;Jan/Feb2007, Vol. 28 Issue 1, p45
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that the European Commission (EC) has fined elevator firms Otis, KONE, Schindler and ThyssenKrupp groups $1.3 billion for operating cartels in the installation and maintenance of elevators and escalators. The EC charged that these companies rigged bids for procurement contracts, fixed prices and allocated projects to each other, shared markets, and exchanged commercially important and confidential information between at least 1995 and 2004. The fine is the largest ever imposed by the Commission for cartel violations.
ACCESSION #
26561539

 

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