German steel forging companies fined for cartelization

Monday, 08 February 2021 16:01:11 (GMT+3)   |   Istanbul
       

Germany’s cartel authority Bundeskartellamt has announced that it has imposed fines totaling around €35 million on three steel forging companies, Bharat Forge Global Holding GmbH, Bharat Forge CDP GmbH, Musashi Bockenau GmbH & Co. KG, and on two responsible employees for exchanging information on and agreeing to pass on production cost increases of steel forged products.  

The exchange of information took place regularly in the period from October 2002 to December 2016. The investigation was triggered by an application from the forging company Hirschvogel Umformtechnik GmbH. 

When setting the fine, it was taken into account that the companies cooperated with the Federal Cartel Office during the entire procedure. The fines on the companies were reduced after settlements were reached. The fines imposed are not yet final, an appeal can be lodged against the notices.


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