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Italian steel-bar cartel gets new fines, with discount for duration of EU probe

( July 4, 2019, 10:27 GMT | Official Statement) -- MLex Summary: The European Commission has readopted fines against participants in an Italian steel-bar cartel, after two previous decisions were annulled by the EU courts. Today's fine of 16 million euros against AlfaAcciai, Feralpi Holding, Ferriere Nord, Partecipazioni Industriali (Riva Fire) and Valsabbia Investimenti/Ferriera Valsabbia factors in a reduction of 50 percent in recognition of the "long duration of proceedings, which is not attributable to the companies involved." The cartel, which dates back to 1989, was first sanctioned in 2002.The press release follows in English:...

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