TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Alstom among 11 firms fined $140 million in Brazil for collusion
The companies belonged to a "cartel" that distorted at least 26 tenders between 1999 and 2013 in four Brazilian states, the Administrative Council for Economic Defense (CADE) said.
Change Size
A general view of Alstom's largest hydropower manufacturing plant in the world in Taubate, about 130km east of Sao Paulo, Brazil on March 8, 2012. (AFP/Yasuyoshi Chiba )
B
razil's competition watchdog on Monday fined Alstom, Bombardier and nine other companies 535 million reais (around $140 million) for illegally colluding on tenders for building metro lines and suburban trains.
The companies belonged to a "cartel" that distorted at least 26 tenders between 1999 and 2013 in four Brazilian states, the Administrative Council for Economic Defense (CADE) said.
Their objective was to "divide the market, fix prices, adjust conditions, advantages and modes of participation of companies in the tenders," CADE said.
Fines for the 11 companies, which also included Spain's CAF and Japan's Mitsui, totaled 515.6 million reais plus 19.5 million reais for 42 managers.
Alstom, which was considered to be one of the leaders of the cartel, has been banned from participating in any tender process in Brazil's rail sector for five years.
Alstom and Canada's Bombardier also have been barred from receiving public subsidies or tax exemptions for the same period.
Germany's Siemens was also a member of the cartel, but it avoided punishment after signing a "leniency agreement" with Brazilian authorities.
The fines could be subject to appeal.
Alstom Brazil said it would "examine in due course the legal provisions" open to it.
Bombardier said it had "fully cooperated with investigators and would continue to do so."
