ABB confirmed yesterday that it has been named in a European Commission ruling on anti-competitive practices in the power cable industry.
ABB’s fine was waived because the company received full immunity for voluntarily disclosing these practices to the European Commission. The information provided by the company enabled the Commission to conduct an investigation resulting in yesterday’s decision.
“ABB is committed to fair and open competition in all the markets in which it operates around the world. ABB companies and employees are forbidden from engaging in anti-competitive practices or other illegal or unethical behavior. ABB has a zero-tolerance policy with respect to illegal or unethical behavior,” the company said.
Press release, April 3, 2014; Image: ABB