European Authorities Fine Phosphate Producers for Price Fixing
10:31 AM MDT | August 3, 2010 | Ian Young
The European Commission has fined animal feed phosphate producers a combined â‚¬175.65 million ($227 million) for conspiring to fix prices in Western Europe â€śfrom as early as March 1969 until February 2004.â€ť Several participants in the price-fixing cartel had their fines reduced or rescinded because they cooperated with the commissionâ€™s investigation. All but one participant had their fines cut by a further 10% because they agreed to settle the case with the commission and admitted their participation in the cartel, leading to a streamlined settlement...
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