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Article: EU fines German, British companies euro60 million for needle cartel
- Article from:
- AP Worldstream
- Article date:
- October 26, 2004
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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AP Worldstream
10-26-2004
Dateline: BRUSSELS, Belgium
European Union regulators Tuesday fined German company William Prym GmbH&Co. KG and Britain's Coats Holdings Ltd a total of euro60 million (US$76.8 million) 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 to share out markets in other haberdashery products such as pins, buttons and zip fasteners.
The EU said the European market for haberdashery was worth over euro1 billion (US$1.28 ...
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