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Monday, May 27, 2024

DB and ThyssenKrupp agree settlement over alleged price fixing

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Deutsche Bahn (DB) and steel manufacturer ThyssenKrupp have agreed an out-of-court settlement over allegations of price fixing.

DB had threatened legal proceedings against ThyssenKrupp for its role in a ‘cartel’ of steel suppliers that had allegedly manipulated the price of rail equipment.

Although details of the settlement have been kept confidential, ThyssenKrupp has said it believes there will be ‘no further costs on top of the provisions already recognized’.

In July last year, ThyssenKrupp GfT Gleistechnik was fined €103 million by the Federal Cartel Office following investigations into anti-competitive behavior.

Gerd Becht, chief compliance, privacy, legal and corporate security at DB, said: “We welcome the fact that ThyssenKrupp is its responsibility and compensate the damage.”

DB agreed a settlement with Voestalpine earlier in the year and confirmed this week that it was currently pursuing additional claims against other suppliers.

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