EU Revives €16M Fines On Steel Makers For Price Fixing

Law360, London (July 4, 2019, 5:35 PM BST) -- The European Union’s antitrust watchdog on Thursday reinstated fines topping €16 million ($18 million) against a cartel of Italian companies accused of rigging the price of steel bars used to reinforce concrete after the EU's top court tossed the penalties.

The European Commission said it had restored parts of a 2009 decision that levied fines against major players in Italy’s concrete reinforcing bar sector after the European Court of Justice annulled the penalties on procedural grounds two years ago.

Five companies — AlfaAcciai, Feralpi Holding, Ferriere Nord, Riva Fire and Ferriera Valsabbia — have been fined €16 million for allegedly driving...

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