Elevator fines

Austria's Cartel Court has announced fines totalling € 75,4 million against five elevator manufacturers accused of anti-competitive practices. The fines follow an investigation concluded in February by Austria's Federal Competition Authority, Bundeswettbewerbsbehörde (BWB).

Schindler was given the heaviest fine, at € 25 million, followed by Kone (€ 22,5 million), Otis (€ 18,2 million), Haushahn (€ 6 million) and Doppelmayr (€ 3,7 million). The Court found that the companies undertook several illegal practices over the years, including agreements on prices, the allocation of work and the exchange of confidential information.

The investigation was launched last August, following a notification from cartel member ThyssenKrupp under BWB's leniency rules. As a result the company was given immunity from fines, and a second leniency application from Otis saw its' fine reduced by -50%.

According to the Cartel Court, the ruling is not yet final, and it is not clear whether any of the companies will appeal.