EU Fines Refrigeration Compressor Producers EUR161 Million
December 07 2011 - 5:14AM
Dow Jones News
The European competition watchdog said Wednesday it had settled
a cartel case against producers of household and commercial
refrigeration compressors, used in fridges, freezers, vending
machines and ice-cream coolers.
The European Commission said it would fine the four companies
involved, ACC, Danfoss, Embraco and Panasonic (PC) a total of
EUR161.2 million.
A fifth company that participated in the cartel, Tecumseh
(TECUA), acted as a whistleblower and secured immunity under EU
legislation.
"I want to send a message to everybody that the Commission's
dedicated cartelbusters continue to detect, hunt down and punish
cartels. At a time of economic hardship it is all the more
important to promote fair competition and step up the fight against
cartels which inflict serious damage on productivity and economic
growth," said Competition Commissioner Joaquin Almunia in a written
statement.
-By Matina Stevis, Dow Jones Newswires; +32 (0)2 741 1 483;
matina.stevis@dowjones.com
Tecumseh Products Company - Class A (MM) (NASDAQ:TECUA)
Historical Stock Chart
From Apr 2024 to May 2024
Tecumseh Products Company - Class A (MM) (NASDAQ:TECUA)
Historical Stock Chart
From May 2023 to May 2024
Real-Time news about Tecumseh Products Company - Class A (MM) (NASDAQ): 0 recent articles
More Tecumseh Products Co. Cl A News Articles