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EU files cartel charges against marine hose makers

05 May 2008, 16:20 CET

(BRUSSELS) - The European Commission said Monday it had filed cartel charges against companies that make hoses used to load oil on tankers.

While Europe's top competition watchdog did not name the targeted companies, it said they were accused of "alleged participation in a cartel in violation of EU rules on restrictive business practices."

The charges follow EU antitrust raids a year ago in Britain, France and Italy looking for evidence of suspected price fixing.

If the companies are unsuccessful in defending themselves against the charges, they could face hefty fines from the commission, which has made cracking down on illegal cartels a top antitrust priority.

Text and Picture Copyright 2008 AFP. All other Copyright 2008 EUbusiness Ltd. All rights reserved. This material is intended solely for personal use. Any other reproduction, publication or redistribution of this material without the written agreement of the copyright owner is strictly forbidden and any breach of copyright will be considered actionable.




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