On June 30, the European Commission (EC)announced that it has fined 17 producers of prestressing steel a total of €518.47 million for operating a cartel that lasted 18 years until 2002 and covered all but three of the then European Union member states, namely UK, Ireland and Greece
The EC decision concluded that the producers violated the European Union's ban on cartels and restrictive business practices.
According to the EC report, during 18 years the companies fixed quotas and individual prices, allocated customers and exchanged significant commercial information. Moreover, they controlled the agreements relating to prices, the customers and the quotas thanks to a system of national coordinators and bilateral contacts.
Company |
Fine (€) |
276,480,000 |
|
Emesa/Galycas/ArcelorMittal (España) |
40,800,000 |
GlobalSteelWire/Tycsa |
54,389,000 |
Proderac |
482,250 |
Companhia Previdente/Socitrel |
12,590,000 |
Fapricela |
8,874,000 |
Nedri/HIT Groep |
6,934,000 |
WDI/Pampus |
56,050,000 |
DWK/Saarstahl |
0 |
Voestalpine Austria Draht |
22,000,000 |
Rautaruukki/Ovako |
4,700,000 |
Italcables/Antonini |
2,386,000 |
Redaelli |
6,341,000 |
CB Trafilati Acciai |
2,552,500 |
I.T.A.S. |
843,000 |
Ori Martin/Siderurgica Latina Martin |
19,800,000 |
Emme Holding |
3,249,000 |
TOTAL |
518,470,750 |
The cartel broke up in 2002 after German company DWK/Saarstahl revealed its existence under an EU leniency programme which was introduced that year. The company was spared a fine for being the first to come clean.