Charges laid in marine hose cartel probe
The European Commission has sent charges to companies it alleged to have taken
part in a price-fixing marine hose cartel.
"The European Commission can confirm that a statement of objections has been
sent to a number of companies active in the supply of marine hoses,
concerning their alleged participation in a cartel," the European Union
executive said in a statement, released today.
The Commission raided the French, Italian and British offices of makers of
marine tubing roughly a year ago as part of a global cartel investigation,
and co-ordinated its work with the US Justice Department.
German tyre and car parts maker Continental, which owns UK-based Dunlop Oil &
Marine said it had received a statement of objections from Brussels.
Some suspected of involvement were arrested last year in the US, where price
fixing is a crime. They included employees of Sweden's Trelleborg and
executives working for Dunlop Oil & Marine and Japan's Bridgestone.
According to the 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, a Reuters report said
05 May 2008 16:08 GMT
| last updated:
05 May 2008 16:08 GMT
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