Antitrust: Commission welcomes Court judgment in the Elevators and Escalators cases

The European Commission welcomes the decision of the Court to fine Otis, Kone, Mitsubishi, Schindler and ThyssenKrupp for the management of a cartel in the market for elevators and escalators with a penalty equal to a billion €. The judgment largely agrees with the Commission’s decision of February 21, 2007 (IP/07/209). The Court confirmed the violation of Article 81 EC. The companies were declared guilty of having agreements in order to share public and private contracts for the sale, installation and maintenance of elevators and escalators, thereby drowning the regime of free competition in Belgium, Germany, Luxembourg and the Netherlands. The Court dismissed the appeals brought by Otis, Kone and Schindler. Fines have been maintained, respectively, to € 225mln, € 144mln and € 142mln. However, because of the accusation of recidivism was not justified, the fine imposed on ThyssenKrupp has been reduced to € 320mln (reduction of €160mln). Press Release General Court of the European Union