EU regulators raid power equipment makers

14th February 2007, Comments 0 comments

BRUSSELS, Feb 13, 2007 (AFP) - The European Commission said Tuesday it had raided several makers of power transformers in France, Germany and Austria on suspicion they were running an illegal cartel.

BRUSSELS, Feb 13, 2007 (AFP) - The European Commission said Tuesday it had raided several makers of power transformers in France, Germany and Austria on suspicion they were running an illegal cartel.

The EU competition watchdog said it had "carried out unannounced inspections" at the unnamed groups because it had "reason to believe that the companies concerned may have violated" EU antitrust rules on price fixing.

It said that such so-called "dawn raids" were the first step in an investigation of a suspected cartel but did not mean the companies were guilty.

Power transformers help to transmit electricity or run equipment by increasing or decreasing voltage.

The European Commission is leading a campaign against cartels and has in particular targeted illegal clubs in the energy sector, where it considers competition to be too weak.

Copyright AFP

Subject: French news, EU

0 Comments To This Article