Friday, March 2, 2012

EU fines steel producers for cartel

European Union regulators have fined steel producer ArcelorMittal (EURO)276 million for secret deals to fix steel prices for nearly two decades with 16 other steel makers.

The European Commission says it fined all of the companies a total of (EURO)518 million, bringing to (EURO)1.49 billion the amount of fines it has levied this year on businesses who formed cartels.

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