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EU regulators fine 8 window mountings firms $115 mln

Post Time:Mar 30,2012Classify:Industry NewsView:187

 

European Union antitrust regulators fined eight companies, including six from Germany, 86 million euros ($115 million) on Wednesday for fixing prices of window mountings.

 

The six firms from Germany were Fuhr, Gretsch-Unitas, Hautau, Siegenia, Strenger, and Winkhaus, and also Austrian company Mayer & Co and Italian group Alban Giacomo.

German firm Roto Frank was not penalised for participating in the cartel, as it alerted the European Commission to the collusion.

 

"For more than seven years, buyers of windows throughout Europe have had to face a cartel. We are determined to fight such illegal practices, whether they come from large multinationals or family owned companies," EU Competition Commissioner Joaquin Almunia said in a statement.

 

"While we have ensured that the fines we imposed today remain proportionate, they are high compared to the companies' turnover and will make them think twice if they ever think of fixing prices again."

 

The European Union executive charged the window-mounting producers in 2010 for colluding to increase prices in Europe. The charges followed raids on the companies three years earlier.

 

The mountings concerned are parts that allow the opening and closing of a window or window door, notably the tilt and turn mechanism that enables it to be opened in different positions using just one handle.

 

Swiss authorities penalised Siegenia-Aubi and Winkhaus and several other companies in 2010 for price fixing.

 

The Commission has imposed total fines of 10.6 billion euros ($14.06 billion) on cartels between 2007 and 2011. The largest penalty of 1.38 billion euros was levied on a group of car glass makers in 2008

 

Source: ReutersAuthor: shangyi

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