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German companies fined over rail order collusion

Tuesday - 7/23/2013, 7:50am  ET

BERLIN (AP) -- Germany's antitrust regulator has fined eight companies a total of 97.6 million euros ($129 million) for colluding on orders for railway tracks and related products.

The Federal Cartel Office said Tuesday that ThyssenKrupp GfT Gleistechnik GmbH, a unit of steelmaker ThyssenKrupp AG, was hit with the biggest fine -- 88 million euros.

The fines cover alleged collusion between 2001 and 2011. The cartel office last year hit four companies, including the ThyssenKrupp unit, with a first round of fines totaling 134.5 million euros over accords at the expense of Germany's main railway operator, Deutsche Bahn.

The latest punishment involves alleged agreements at the expense of other passenger and freight railway operators as well as construction companies.

The fines can be appealed.

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