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Australia: Electrical cable cartel crackdown on Japanese company

By  |  April 5, 2013

The Australian Competition and Consumer Commission has issued a $1.3 million fine against Viscas, a Japan-based electrical cable company that was found to have taken part in a cartel to fix prices and rig bids. The collusion, according to reports, concerned cable supplies for the Snowy Hyro Project. The ACCC found that Viscas, along with several other companies, had made agreements with each other to let certain companies win contracts. In addition to the fine, Viscas has agreed to pay $50,000 in legal fees to the competition authority.

 

Full Content: Sydney Morning Herald

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