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Tube players raided in cartel probe



By Upstream staff 

The European Union's top anti-trust authority confirmed it had raided the French, Italian and UK offices of makers of marine tubes used in transporting oil in a cartel investigation.

"I can confirm that yesterday and today Commission officials have undertaken unannounced inspections at premises of several marine hose producers in France, Italy and the United Kingdom," Commission spokesman Jonathan Todd told Reuters.

"The Commission co-ordinated its investigative measures with the United States Department of Justice in the context of a suspected worldwide cartel concerning marine hoses," he said.

The confirmation came after Sweden's Trelleborg said it had been investigated by EU and US authorities.

The engineering company said in a statement two managers at Trelleborg Industrie were arrested in the US yesterday. They have since been released.

It said the Commission had investigated its French subsidiary.

Eight foreign executives were arrested in the US yesterday and charged with bid-rigging and price-fixing in the market for marine hoses, US anti-trust authorities told Reuters.

Among those arrested in Houston and San Francisco were the two from Trelleborg Industrie, and executives working for UK-based Dunlop Oil & Marine and Japan's Bridgestone Corporation. Dunlop is a unit of Germany's Continental Group.

Marine hose is a flexible rubber hose used to move oil between tankers and storage facilities and buoys.

Officials with Bridgestone, Dunlop and Trelleborg could not be immediately reached for comment, Reuters said.

According to the US complaints, the executives took part in the conspiracy "at various times" since 1999.

According to an affidavit filed in the case, the alleged conspirators met in locations such as Key Largo, Florida, and Bangkok and referred to the cartel as "the club" or the "Technical Committee - Marine Hose" in written communications.

Members of the cartel met as recently as Tuesday at a hotel in Houston, the US Justice Department said.


Thursday, 03 May, 2007, 11:05 GMT  | last updated: Thursday, 03 May, 2007, 14:08 GMT

Cartel probe: launched by EU anti-trust authorities
 

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