Prestressing Steel Producers fined €519m for price fixing and market-sharing cartel
17 producers of prestressing steel have been fined €519m by the European Commission for their involvement in a cartel in which they fixed prices and shared markets, contrary to Article 101 of the Treaty on the Functioning of the European Union. One participant received total immunity from fines for being the whisteblower, others received reductions for their co-operation, and one had their fine increased due to repeat competition law infringements. Interestingly, the fines of three members of the cartel were reduced because of their financial difficulties in paying the full fine.
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