NEW YORK - General Electric Co accused a Siemens Energy AG subsidiary of using stolen trade secrets to rig bids for lucrative contracts supplying gas turbines to public utilities, and cover up improper business gains totaling more than $1 billion, according to a lawsuit filed on Thursday.GE sued the rival company, Siemens Energy Inc, in a U.S.
In the course of GE’s bid for business with Dominion, the lawsuit alleges, a senior Dominion employee started sending to a Siemens account manager confidential business information GE had submitted. The information also included Dominion’s analysis of all bids, giving Siemens a “blueprint” to win contracts worth up to $340 million with the utility for the business, known as the Peakers Project, GE alleged.
In a bid package, GE had provided Dominion with technical specifications for four gas turbine models, pricing for different combinations of the equipment and details on how the company would service and maintain it, the lawsuit claims. Gas turbines are combustion engines that convert natural gas to energy powering generators that supply electricity to large residential and business developments.
The litigation is the latest legal battle involving the corporate rivals, which have squared off in lawsuits over patent infringement as recently as last year.
GE not being competitive enough. Only way out
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