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Brazil: CADE wants execs punished for refrigeration cartel

By  |  November 30, 2012
Brazil: CADE wants execs punished for refrigeration cartel

In a press release offered to CPI, CADE has announced the antitrust body has suggested punishments for executives involved in the cartel within the refrigeration market. Three executives in the industry of compressors for refrigeration equipment– products used in refrigerators and air conditioners – were recommended for punishment in a case that will now go to the Tribunal for a final decision. According to the General Superintendence, the violations occurred between 1996 and 2004, initially forming in Brazil and then expanding worldwide. Evidence of the cartel behavior was collected in raids of executive offices in 2009. The General Superintendence has suggested the clearance of charges for certain executives whose cartel behavior did not occur in Brazil, however.

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