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EU Court Annuls Some Fines On Gas Insulated Switchgear Cartel

BRUSSELS -(Dow Jones)- The European Court of Justice annulled fines imposed by the European Commission on Japanese companies Mitsubishi Electric Corp. (6503.TO) and Toshiba Corp. (6502.TO) for participating in a cartel of gas-insulated switchgear products. The General Court, the European Union's second highest court, confirmed the EUR50.4 million imposed on Hitachi Ltd. (HIT). In March, the same court upheld a EUR397 million fine levied against German conglomerate Siemens AG (SI) for having operated in the same cartel, but it reduced penalties imposed on Siemens Austria subsidiaries and on French power generation firm Alstom S.A. (ALO.FR) and nuclear giant Areva S.A. Gas insulated switchgear is heavy electrical equipment used to regulate electricity flows within power grids. It is a major component of power substations, where electrical current is converted from high to low voltage, or vice-versa. -By Alessandro Torello, Dow Jones Newswires; +32 2 741 14 88; alessandro.torello@dowjones.com

Stock News for Hitachi (HIT)
DateTimeHeadline
02/04/201506:13:00Hitachi to Establish Global Structure for the Social Innovation...
02/03/201505:50:00Hitachi Receives Large Power Transformer Order from US Power...
01/14/201503:33:00Utilizing a Self-steering Robotic Tractor in the Developmental...
01/09/201500:42:00Hitachi Wins an Additional Order for 16 Tilting Rail Cars for...
01/07/201503:43:00Hitachi Begins Shipment of Trains from Kasado Works for the UK...
11/18/201423:20:00Hitachi Secures Contract to Upgrade the Sentosa Express
11/18/201422:53:00Hitachi: Commencement of Feasibility Study on Development and...
11/12/201423:25:00Hitachi Unveils Train for the UK Intercity Express Programme
11/10/201420:35:00Hitachi Enters Agreement with Bonneville Power Administration...
11/10/201403:20:00MHPS Receives order for DeNOx System for Power Plant in Spain
11/05/201421:35:00Hitachi Announces Order for 500kV GIS Substation in Thailand
10/30/201401:30:00Fukushima Experimental Offshore Floating Wind Farm Project Second...
10/23/201422:35:00Hitachi and Veolia Win Contract to build Pretreatment Facilities...
10/22/201402:48:00MHPS Completes World-class Combustion Test Facility For Boilers...
10/09/201423:48:00Hitachi Rail Europe to Provide New Trains for Abellio Franchise...
10/09/201402:35:00Hitachi Hosts "Hitachi Innovation Forum 2014 Singapore"
10/08/201400:54:00Hitachi to Sponsor the Hitachi Scholarship Program for the Asian...
10/01/201402:02:00Hitachi Consulting Acquires Singapore Based Consulting Firm...
09/19/201402:38:00Hitachi Rail Announces Showcase at InnoTrans 2014
09/18/201403:48:00Hitachi Opens European Nuclear Research Centre

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