Voestalpine Says Second Rail Unit Raided in German Probe

Voestalpine AG (VOE), Austria’s biggest steel maker, said a one of its rail units was searched in Germany today, its second raid in as many days.

The German Federal Cartel Office raided the office of TSTG Schienen Technik GmbH & Co KG in Duisburg, following that of Voestalpine Kloeckner Bahntechnik GmbH in the same city yesterday, the Linz-based company said in a statement.

“The reason for the inspections are possible anti- competitive practices in the German market for rails,” according to the statement.

Voestalpine said yesterday that the company “takes these allegations seriously and will openly and fully cooperate with the authorities.”

TSTG is produces rails, while Kloeckner is active in the trading of rails for Voestalpine’s railway systems division in Germany, according to the company.

To contact the editor responsible for this story: Zoe Schneeweiss at zschneeweiss@bloomberg.net

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