Germany-based steelmaker ThyssenKrupp announced that its Essen-based subsidiary, ThyssenKrupp GfT Gleistechnik GmbH, has been fined 103 million Euros by the German Federal Cartel Office for the railway cartel lawsuit.
The Federal Cartel Office has been investigating various companies operating in the country's rail sector for more than a year. The investigation, including ThyssenKrupp, covered steel shipments to German national railway company Deutsche Bahn. Fines will also be imposed on companies outside of ThyssenKrupp GfT Gleistechnik GmbH subject to review.
ThyssenKrupp's penalty was eased due to its cooperation with the institutions conducting the review and sharing the developments with its customers in accordance with the principle of transparency.
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