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ABB under investigation in EU cartel probe

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15:18 CET+01:00
The European Commission is investigating Swedish-Swiss Engineering group ABB as part of a large-scale investigation into alleged anti-competitive practices, the company revealed on Thursday.

"This is part of the ongoing investigation in the power transformer business, for which the European Commission conducted dawn raids at the premises of an ABB unit in Bad Honnef, Germany, in February 2007," said the group in a statement.

A statement of objections sent by the Commission to ABB is a formal step in antitrust investigations, when the Commission informs the parties concerned of the objections raised.

The party concerned can then reply in writing or request an oral hearing to present its points before the Commission takes a decision on the case.

Power transformers are key components in electricity transmission networks, reducing or increasing the voltage in an electrical circuit.

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