EU watchdog fines Italy's Pometon over steel abrasive cartel
May. 25, 2016
BRUSSELS (AP) — European Union anti-trust regulators have fined Italy's Pometon S.p.A. 6.2 million euros ($6.9 million) for price-fixing in the market for steel abrasives used to clean or enhance metal surfaces.
EU Competition Commissioner Margrethe Vestager said Wednesday that the "cartel adversely affected a wide range of European manufacturing industries to the ultimate detriment of consumers."
The EU Commission said Pometon took part for almost four years in the cartel and had contacts to coordinate the prices of steel abrasives across the whole of the European market.
Other alleged members of the cartel — Ervin, Winoa, Metalltechnik Schmidt and Eisenwerk Würth — chose to settle with the Commission two years ago, but Pometon refused so the probe continued.