SAO PAULO Oct 11 Local company head Paulo
Ricardo Stark said Siemens AG will reimburse public coffers if
Brazilian authorities prove a cartel fixed prices for public
transit construction, equipment and upkeep in Sao Paulo,
Brazilian newspapers reported.
The German engineering company did not immediately respond
to Reuters' request for comment on statements made by Stark in
an investigative hearing on Thursday that were published in
local newspapers O Estado de S.Paulo and Folha de S.Paulo on
Stark said internal company investigations turned up no
signs that bribes had been paid to public officials, as some
local media reports had reported.
Siemens has been cooperating with antitrust
officials as they investigated charges it and other companies
formed a cartel that raised the price of contracts to build and
operate train and subway lines between 1990 and 2007.
In addition to Siemens, France's Alstom SA and
other international and local engineering and railway equipment
companies have bid for transit contracts in São Paulo in recent