European General Court Annuls Fine Imposed by European Commission in Gas Insulated Switchgear Investigation Involving Mitsubishi Electric
Tokyo - Mitsubishi Electric Corporation (TOKYO: 6503) announced today that on July 12, 2011 (JST) it received judgment from the European General Court in relation to fines claiming infringement of EU competition law for sales of gas insulated switchgear (GIS) from 1988 to 2004.
In January 2007, Mitsubishi Electric received a decision adopted by the European Commission that imposed a fine of 113,925,000 euros, and another fine of 4,650,000 euros to be borne jointly with Toshiba Corporation. In April 2007 Mitsubishi Electric appealed to the European General Court to assert that the European Commissionís decision incorrectly attributes liability to Mitsubishi Electric.
Although Mitsubishi Electric has just received the judgment from the Court and is therefore not yet able to review the full text of the judgment in detail, the judgment annuls the fine amounts imposed by the European Commission.
Mitsubishi Electric will carefully review the judgment before deciding on its future actions.
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