Press Release: Antitrust: Commission fines prestressing steel producers €518 million for two-decades long price-fixing and market-sharing cartel

The European Commission has fined 17 producers of prestressing steel a total of €518,470,750 for operating a cartel that lasted 18 years until 2002 and covered all but three of the then European Union Member States. The Commission decision concludes that the producers violated the European Union's ban on cartels and restrictive business practices. Prestressing steel comprises long, curled steel wires used with concrete in construction sites to make foundations, balconies or bridges. This is the fourth cartel decision since the beginning of February 2010, bringing the total amount of antitrust fines imposed so far in 2010 to €1,493 million.

European Commission: Memo: MEMO/10/290: Antitrust: Commission action against cartels – Questions and answers http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/10/290&format=HTML&aged=0&language=EN&guiLanguage=en

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