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The Austrian cartel court has today announced its decision regarding the anticompetitive practices in the local elevator and escalator markets.
It has found KONE’s Austrian subsidiary and four other companies operating in the elevator and escalator industry to have been involved in anticompetitive practices, and consequently imposed a fine of EUR 22.5 million on KONE’s Austrian subsidiary.
The Austrian cartel court notified KONE's Austrian subsidiary in February 2007 of the initiation of proceedings against companies operating in the Austrian elevator and escalator market. In October, the Austrian competition authority submitted its proposal to the cartel court for the amount to be imposed on KONE's Austrian subsidiary.
The fine will be booked as an expense in 2007.
KONE is one of the world’s leading elevator and escalator companies. It provides customers with industry-leading elevators, escalators and innovative solutions for maintenance and modernization. KONE also provides maintenance services for automatic building doors. In 2006, KONE had annual net sales of EUR 3.6 billion and approximately 29,000 employees. Its class B shares are listed on the OMX Nordic Exchange Helsinki in Finland.
For further information, please contact:
Jukka Ala-Mello, Secretary to the Board, tel. +358 (0)204 75 4226
Executive Vice President
Senior Vice President,
Corporate Communications & IR