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Russia: Price-fixing cartel shut down by FAS

 |  November 4, 2013

Russia’s Federal Antimonopoly Service has issued fines totaling more than $17 million against PVC manufacturers found to have taken part in a price-fixing cartel.

Reports say the FAS found seven entities guilty of violating competition laws in their agreement to divide up the PVC market between 2005 and 2009. The FAS reached its conclusion in December 2012.

JSC ETK received the highest fine of them all.

The FAS said it continues to investigate the cartel and additional anticompetitive conduct in the PVC market. In a statement, FAS head Alexander Kinev said the regulator is paying “special attention to the chemical industry.”

Full content: PRW.com

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