KRUPP CARTEL
July 1st, 2005
BY KEITH NUTHALLTHE EUROPEAN Court of Justice (ECJ) has rejected a final appeal by three European Union (EU) stainless steel flat product makers against the imposition of heavy fines for forming a cartel. Spain's Acerinox must now pay Euro 3.13 million, Italy's ThyssenKrupp Acciai speciali Terni SpA Euro 4.03 million and Germany's ThyssenKrupp Stainless Steel also Euro 4.03 million. The European Commission had originally imposed larger fines over the companies' illegal collaboration in surcharging customers for alloying materials nickel, chromium and molybdenum. ...
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