Spectator on facebook

Spectator on facebook

Switchgear producers fined Sk 350 mln.

The Antitrust Office (PMÚ) handed down a Sk350-million fine to companies from across Europe and Asia for forming a gas insulated switchgear (GIS) cartel. The office said an agreement the companies signed in 1988 violates the European Commission Treaty's ban on restrictive business practices by allegedly fixing prices, carving up the global market and coordinating GIS public procurement procedures. The agreement covered business across the world, except the United States and Canada.

The Antitrust Office (PMÚ) handed down a Sk350-million fine to companies from across Europe and Asia for forming a gas insulated switchgear (GIS) cartel. The office said an agreement the companies signed in 1988 violates the European Commission Treaty's ban on restrictive business practices by allegedly fixing prices, carving up the global market and coordinating GIS public procurement procedures. The agreement covered business across the world, except the United States and Canada.

GIS is the main element at electricity distribution stations that regulates the flow of energy in electrical distribution networks.

The PMÚ said it launched the proceedings based on evidence obtained from one of the cartel participants, who asked for leniency in exchange.

The PMÚ fined Siemens AG the highest sum, at Sk40 million. Mitsubishi Electric Corporation and Toshiba Corporation got high fines as well, at Sk35 million each. SITA

Compiled by Zuzana Vilikovská from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

LGBTI people in the regions: We change people’s minds

Bratislava will dress up in rainbow colours this August again, for the seventh time. This will be for the Bratislava Dúhový Pride diversity festival. But the colours of the rainbow are less bright in the regions,…

Slovakia’s LGBTI community seeks to expand their rights.

Foreigners: Top 10 events in Bratislava Video

Tips for the top 10 events in the capital between August 18 and August 27, as well as regular services in different languages, training for foreigners in English and highlights of the year.

Pivobrana - Beer Festival

Have you ever climbed a via ferrata? Photo

In central Slovakia, there is one also suitable for beginners. Here are some of the views it offers.

Agrokomplex opens its gates Photo

This year’s exhibition has more discussions with experts and a family programme.