Huge Fine on Danfoss in cartel
Wednesday, the Danish company Danfoss, according to Stock Exchange set a record Denmark, as any had been free. It informs TV2 News.
EU Commission will at a press conference revealing that Danfoss has a gigantic fine of between 600 million and 700 million dollars for participating in a global illegal cartel activity in the market for compressors.
painful Danfoss has no comment Tuesday but has previously said about the case.
– It is truly a painful and unpleasant case and very much to our basic values, commented Danfoss’s chief executive Niels Bjorn Christiansen.
The fine comes as a surprise. Danfoss sold 720 million kroner fine in its latest interim results, published in October.
Other fine Danfoss already been fined in the U.S. of 16.5 million dollars because Danfoss’ German subsidiary, Danfoss Flensburg GmbH in the period from October 2004 to 2007, illegal price fixing with competitors in the U.S. market for light commercial compressors.The American and European case stick together.
Danfoss is a privately held company that employs approximately 24,000 employees globally. The company has 79 factories in 22 countries. In 2010 the company generated revenue of 31.6 billion dollars and generated a profit of 1.38 billion kronor.
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