EU Court confirms fines on stainless steel producers

Friday, 15 July 2005 16:17:27 (GMT+3)   |  

EU Court confirms fines on stainless steel producers

The European Union's high court yesterday refused appeals filed by Spanish, German and Italian stainless steel producers against antitrust fines imposed by the EU regulators. In line with the ruling of The European Court of Justice, Spain's Acerinox will pay a fine of nearly €3.14 million, while Germany's ThyssenKrupp Stainless GmbH and Italy's ThyssenKrupp Acciai Speciali Terni SpA will pay $4.03 million each. These three companies were among six stainless steel producers fined by the European Commission in 1998 for price fixing. The other three companies accepted their penalties.

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