Energy power plants General Electric and Siemens Energy settle dispute over gas turbines
GE sued Siemens Energy for illegal competitive advantages. Now the US group and the Erlangen competitor have agreed on a binding settlement.
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The US conglomerate General Electric (GE) and Siemens Energy have settled a lawsuit over gas turbines. The two companies announced on Thursday evening that they had agreed a binding settlement. Details were initially not known.
General Electric (GE) had filed a lawsuit against the manufacturer of power plant turbines in January because he was illegally gaining competitive advantages over at least one major order from a US regional supplier GE should have provided. That have Siemens Energy possibly brought in further contracts worth more than a billion dollars, argued the arch-rival.
The September from the Munich industrial group Siemens split off company that was listed on the stock exchange had received confidential documents from an employee of Dominion Energy, thanks to which Siemens GE easily outperformed in the struggle for a major order from Dominion .
GE asked for Siemens a fine of “hundreds of millions of dollars or more”. Siemens Energy admitted the matter, but stressed that it had uncovered the case itself and disclosed it to Dominion and its competitors.
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