Antitrust penalty against GEA and former subsidiaries
Bochum, November 11, 2009 – Today the European Commission has imposed penalties on 24 companies for illegal pricing activities up until the year 2000 in the heat stabilizer market. Among those companies are two small enterprises which had been divested about 10 years ago by former Metallgesellschaft AG/mg technologies ag or, respectively, are related to Dynamit Nobel which was also sold in 2004. According to the European Commission GEA Group AG is (together with the former subsidiaries) jointly and severally liable as legal successor of Metallgesellschaft – the then ultimate parent – for the illegal activities up to an amount of EUR 3.3 million. GEA considers the penalty as unjustified and is currently assessing legal remedies. GEA points out that it has rigorous Compliance Guidelines which are valid and strictly enforced worldwide for the entire group.
GEA Group Aktiengesellschaft is one of the largest system providers for food and energy processes with about EUR 5.2 billion in 2008 revenue. As an internationally operating technology group, the company focuses on process technology and components for demanding production processes in various end markets. The group generates about 70 percent of its revenue from the long-term growing food and energy industries. As of September 30, 2009, a workforce of over 20,000 employees served customers in 50 countries. GEA Group is a market and technology leader in 90 percent of its business areas. GEA Group is listed in the MDAX index (G1A, WKN 660200).
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