German Antitrust Watchdog Fines Aluminum Cartel €175M
Law360, London (December 23, 2020, 1:44 PM GMT) -- Germany's antitrust authority fined five aluminum-forging companies a total of €175 million ($212 million) on Wednesday for setting up a cartel to ensure that they all passed procurement costs onto their carmaker customers, including Porsche and Lamborghini.
The Bundeskartellamt said that it fined the five companies and 10 employees for taking part in illegal anti-competitive agreements.
It said it found that the metalworking companies attended 23 meetings between 2006 and 2018 to exchange information on the costs they incurred during procurement. They made an agreement that they would pass these costs, as well as increases in the cost of raw materials,...
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