Zurich, Switzerland, 6 July 2011 – ABB confirmed that it has received a Statement of Objections from the European Commission alleging anti-competitive practices among a number of cables producers, including ABB. This is part of the European Commission's ongoing investigation of alleged anti-competitive practices in the cables business. ABB is cooperating with the European Commission in its investigation.
ABB has made several disclosures regarding this matter, including in its latest annual report and in the notes to its recent quarterly financial statements.
A Statement of Objections is not a final decision, but a preliminary assessment by the European Commission of the alleged anti-competitive practices.
ABB is committed to fair and open competition in markets around the world. ABB companies and employees are not permitted to engage in any anti-competitive practices or other illegal or unethical behavior. ABB has a zero tolerance policy with respect to illegal or unethical behavior.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 124,000 people.