Breaking: 11 Power Cable Producers Fined by EU for Price Fixing
April 2, 2014
Bloomberg and several other outlets are reporting on a price-fixing cartel among power cable producers fined over $400 million by the European Union.
The EU said 11 producers of underground and submarine cables shared markets and allocated customers ‘‘on an almost worldwide scale’’ from 1999 until regulators raided the companies in January 2009. Six European, three Japanese and two Korean producers agreed to avoid each others’ home markets and agreed on price levels and rigged bids for power projects.
About the Author
Doug Chandler, Senior Staff Writer
Executive Editor
Doug Chandler began writing about the electrical industry in 1992, and still finds there's never a shortage of stories to be told. So he spends his days finding them and telling them. Educationally, he's a Jayhawk with an English degree. Outside of work, he can often be found banging drums or harvesting tomatoes.