Alexa

EU court lifts Mitsubishi, Toshiba cartel fines

EU court lifts Mitsubishi, Toshiba cartel fines

The European Court of Justice has overruled a decision to fine Mitsubishi Electric and Toshiba for participating in a cartel.
The court on Tuesday ruled that the European Commission "did not treat the Japanese producers and the European producers equally" when determining the fines.
Mitsubishi Electric and Toshiba were fined about (EURO)120 million ($170 million) and (EURO)90 million ($125 million), respectively, in 2007 for committing to stay out of the European market for gas-insulated switchgear, electrical equipment used at auxiliary power stations.
The court also lowered the fine for Fuji Electric to (EURO)2.2 million from (EURO)2.4 million.
In March, the ECJ reduced the fines imposed on two companies that were part of the same cartel.


Updated : 2020-11-30 20:10 GMT+08:00