Voestalpine reaches agreement with Deutsche Bahn on rail cartel case

Austria-based steelmaker voestalpine has announced that it has become the first company to reach an agreement with German national rail operator Deutsche Bahn, regarding the German rail steel cartel. Accordingly, voestalpine has agreed to pay damages in high double-digit millions and has been granted approval for direct deliveries of rails to Deutsche Bahn.

According to voestalpine’s statement, the associated investigative proceeding by the German Federal Cartel Office largely confirmed voestalpine’s status of cooperating witness. Voestalpine said that the portion of the proceedings before the German Federal Cartel Office that is relative to the private market, which includes, but is not limited, to deliveries to mass transit and municipal services, remains unresolved.

Deutsche_Bahn

Source : steelorbis

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