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Brazil Fines Industrial Gases Firms in Antitrust Case

2:15 PM MDT | September 2, 2010 | Vincent Valk

The Brazilian Administrative Council for Economic Defense (CADE), that country's antitrust body, has fined five industrial gases firms for forming a cartel to limit competition, according to Brazilian media reports. The firms named by CADE include Air Liquide, Air Products, Linde, and White Martins, Praxair's Brazilian subsidiary. The fines total $1.64 billion, or 2.2 billion reals. The largest fine, $1.27 billion, has been imposed on White Martins. Seven executives associated with the companies have also been fined. The cartel divided customers between them, and...

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