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Zipper producers fined for monopoly practices

Miercuri, 19 septembrie 2007, 0:00

The European Commission fined on Wednesday zipper producers with some unprecedented amounts - over 320 million euros - accusing monopoly practices. The fined companies are part of an international group that formed a cartel on the market, an EC release informs.

The 328.64 million euros fine targeted the YKK group (150 million), Coats (122.4 millions) and Prym (40.54 millions). Fines between 1 and 9 million euros were imposed to Scovill, A Raymond SARL and Berning&Sohne GmbH.

The European Commission found four cases in which companies agreed to rise the price at the same time, with the same amount.

Prym, the oldest family business in Germany, agreed to support the investigation, in exchange for a lower fine.

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