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Brazil: Engineering co confirms railway investigation

By  |  July 15, 2013

Following unconfirmed reports that Brazil’s antitrust regulator CADE launched an investigation into European engineering companies, Germany-based Siemens verified that the company is aware of an investigation, though did not confirm whether it was involved. Reports said earlier that engineering companies Siemens and Alstom were under investigation by CADE regarding allegations of a bid-rigging cartel affecting contracts for railway equipment and construction products. Siemens said it is cooperating fully with regulators but declined to offer more details.

Full Content: Reuters

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