Article: EU Fines Companies for Needle Cartel


AP Online
10-26-2004
Dateline: BRUSSELS, Belgium
European Union regulators fined German company William Prym GmbH&Co. KG and Britain's Coats Holdings Ltd a total of 60 million euros ($76.8 million) on Tuesday for running a cartel in the market for needles.

The European Commission said the companies had also entered into illegal agreements between 1994 and 1999 involving other clothing and accessory products such as pins, buttons and zip fasteners.

The EU said the European market for clothing and accessories was worth over 1 billion euros ($1.28 ...

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