Siemens says will reimburse Brazil if cartel proven -paper

Reuters

SAO PAULO, Oct 11 (Reuters) - Local company head PauloRicardo Stark said Siemens AG will reimburse public coffers ifBrazilian authorities prove a cartel fixed prices for publictransit construction, equipment and upkeep in Sao Paulo,Brazilian newspapers reported.

The German engineering company did not immediately respondto Reuters' request for comment on statements made by Stark inan investigative hearing on Thursday that were published inlocal newspapers O Estado de S.Paulo and Folha de S.Paulo onFriday.

Stark said internal company investigations turned up nosigns that bribes had been paid to public officials, as somelocal media reports had reported.

Siemens has been cooperating with antitrustofficials as they investigated charges it and other companiesformed a cartel that raised the price of contracts to build andoperate train and subway lines between 1990 and 2007.

In addition to Siemens, France's Alstom SA andother international and local engineering and railway equipmentcompanies have bid for transit contracts in São Paulo in recentyears.

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