May 21, 2014 / 9:16 AM / 3 years ago

ThyssenKrupp says Polish unit raided by prosecutors

2 Min Read

FRANKFURT, May 21 (Reuters) - German steelmaker ThyssenKrupp said Polish public prosecutors had raided the offices of a rail technology subsidiary on suspicion of illegal collusion with rival bidders for a contract.

In mid-April, authorities searched several companies in Poland, including Thyssen's GfT Polska unit, investigating alleged collusion among bidders for a public tender contract that expired in February, Thyssen said on Wednesday.

GfT Polska had sought a contract worth a mid single digit million euro amount, it added.

The German group said it was assessing the accusations but declined to comment further because of pending legal proceedings.

Chief Executive Heinrich Hiesiger has vowed to root out anticompetitive practices after several cases made headlines.

Germany's antitrust watchdog last year fined four companies including ThyssenKrupp for fixing the price of rail tracks and Thyssen is also subject to an ongoing probe into price fixing for steel supplied to the car industry. (Reporting by Tom Kaeckenhoff; Writing by Ludwig Burger; Editing by Mark Potter)

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