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Germany: Watchdog fines Thyssen, Salzgitter, Voestalpine

 |  December 12, 2019

Germany’s cartel authority announced on Thursday, December 12, it was fining the country’s two large steel makers Thyssenkrupp and Salzgitter as well as Austria’s Voestalpine for price fixing, reported Reuters.

The agency is fining the companies and three individuals a combined €646 million (US$712 million) after establishing that they had agreed on certain surcharges for steel plates in Germany from 2002 to 2016.

Voestalpine said it had agreed to pay a fine of €65.5 million (US$72.8 million). Thyssenkrupp, which has set aside €370 million (US$411 million) in provisions for the case, declined to comment.

Full Content: Reuters

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