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Company Statement: ABB confirms that European Commission closed investigation into ABB’s FACTS business

( September 14, 2010, 13:29 GMT | Official Statement) -- MLex Summary: ABB has confirmed that the European Commission closed an antitrust investigation into flexible alternating current transmission systems (FACTS). Consequently, the company has not been fined. Zurich, Switzerland, September 14, 2010 - In January 2010, the European Commission conducted raids at the premises of the Company's flexible alternating current transmission systems (FACTS) business in Sweden as part of its investigation into alleged anti-competitive practices of certain FACTS manufacturers. We have now been informed that the European Commission has closed its investigation into this matter. No fine has been imposed on ABB....

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