Siemens 2008 Annual Report Download - page 280

184 Notes to Consolidated Financial Statements
(in millions of €, except where otherwise stated and per share amounts)
In December 2006, the Japanese Fair Trade Commission (FTC) searched the ofces of more than ten producers
and dealers of healthcare equipment, including Siemens Asahi Medical Technologies Ltd., in connection with an
investigation into possible antitrust violations. Siemens Asahi Medical Technologies is cooperating with the FTC
in the ongoing investigation. In February 2008, the FTC announced its ndings. Siemens was found not guilty of
participating in antitrust violations, and was therefore not ned or otherwise punished.
In February 2007, the French Competition Authority launched an investigation into possible antitrust violations
involving several companies active in the eld of suburban trains, including Siemens Transportation Systems
S.A.S. in Paris, and the ofces were searched. The Company is cooperating with the French Competition Authority .
In February 2007, the Norwegian Competition Authority launched an investigation into possible antitrust viola-
tions involving Norwegian companies active in the eld of re security, including Siemens Building Technolo-
gies AS. The Company is cooperating in the ongoing investigation with the Norwegian Competition Authority.
The Norwegian Competition Authority has not yet announced a schedule for the completion of the investigation.
In February 2007, the European Commission launched an investigation into possible antitrust violations involv-
ing European producers of power transformers, including Siemens AG and VA Tech, which Siemens acquired in
July 2005. The German Antitrust Authority (Bundeskartellamt) has become involved in the proceeding and is
responsible for investigating those allegations which relate to the German market. Power transformers are elec-
trical equipment used as major components in electric transmission systems in order to adapt voltages. The
Company is cooperating in the ongoing investigation with the European Commission and the German Antitrust
Authority. The European Commission and the German Antitrust Authority have not yet announced a schedule
for the completion of their investigation.
In April 2007, Siemens AG and VA Tech led actions before the European Court of First Instance in Luxemburg
against the decisions of the European Commission dated January 24, 2007, to ne Siemens and VA Tech for
alleged antitrust violations in the European Market of high-voltage gas-insulated switchgear between 1988 and
2004. Gas-insulated switchgear is electrical equipment used as a major component for turnkey power substa-
tions. The ne imposed on Siemens amounted to €396.6. The ne imposed on VA Tech, which Siemens AG
acquired in July 2005, amounted to €22.1. VA Tech was declared jointly liable with Schneider Electric for a sepa-
rate ne of €4.5. The European Court of First Instance has not yet issued a decision. Furthermore, authorities in
Brazil, New Zealand, the Czech Republic, Slovakia and South Africa are conducting investigations into the same
possible antitrust violations. On October 25, 2007, upon the Company’s appeal, a Hungarian competition court
reduced administrative nes imposed on Siemens AG from €0.320 to €0.120 and from €0.640 to €0.110 regard-
ing VA Tech. We have appealed this decision. In January 2008, the Competition Authority of Slovakia imposed
a ne of €3.3 on Siemens and VA Tech. The Company has led an appeal against this decision. In June 2008,
a court of rst instance in the Czech Republic reversed the decision by the national competition authority and
ordered the authority to repay to Siemens the €11.7 ne imposed by the authority. The authority has the right
to appeal the decision.
In April 2007, the Polish Competition Authority launched an investigation against Siemens Sp. z o.o. Poland
regarding possible antitrust violations in the market for the maintenance of diagnostic medical equipment.
In May 2008, the Authority issued a nal decision nding that Siemens Poland had not violated antitrust
regulations.