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EU raids escalator companies

Posted On Monday, 02 February 2004 02:00 Published by
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EU inspectors have staged surprise raids on four European escalator and lift companies, in the first step in a probe to determine whether they have been running a cartel, officials said.

BRUSSELS - EU inspectors have staged surprise raids on four European escalator and lift companies, in the first step in a probe to determine whether they have been running a cartel, officials said.

The raids were carried out simultaneously, the European Commission said, while declining to identify the firms involved.

"The Commission had good reason to believe that the manufacturers may have shared between themselves the tenders for the sale and installation of elevators and escalators," said the EU executive.

They may also have colluded to restrict competition in after-sales service, said a commission statement, adding that the surprise inspections were "a preliminary step in investigations into suspected cartels".

The raids "do not prejudge the result of the investigations themselves", it added.

While not naming the firms involved, the commission said its inspectors had also visited the offices of The European Elevator Association and the European Lift Association, both located in Belgium.

The EU executive said it could not forecast how long the cartel probe would last.

AFP


Publisher: Business Day
Source: AFP
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