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Germany: Steel company searched by antitrust authorities

By  |  September 4, 2017

Germany’s competition regulator said on Monday, September 4, it has widened an investigation into a suspected violation of antitrust laws in the steel industry, with ArcelorMittal and Salzgitter confirming searches at some of their units.

The investigation expands an ongoing cartel office inquiry, which already covers makers and sellers of stainless steel, car manufacturers and suppliers as well as companies in the forging sector.

“I can confirm that the cartel office has carried out searches in the area of flat steel on August 22, 23 and 24 at seven companies as well as three private homes,” a spokesman for the cartel office said, confirming reports by monthly Manager Magazin and daily newspaper Rheinische Post.

“There is suspicion of anticompetitive collusion between the companies,” he added.

Full Content: Nasdaq

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