german sausage makers fined for price cartel
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

German sausage makers fined for price cartel

Arab Today, arab today

Arab Today, arab today German sausage makers fined for price cartel

German sausage makers
Frankfurt - AFP

German sausage makers have been fined a sizzling 338 million euros ($460 million) for fixing their prices to the retail sector for many years, the national competition watchdog said on Tuesday.
"Numerous statements and documentation prove that there was a 'fundamental understanding' to agree regularly on requests for price increases," the Federal Cartel Office said in a statement.
In all, 21 sausage makers and 33 company officials were fined, including the Herta group, a subsidiary of Swiss food giant Nestle, the statement said.
The cartel office said it would not provide detailed information about the individual fines for each party, but the size of the fines ranged from "a few hundred thousand euros to high digit millions."
The sausage makers have met regularly for decades in the so-called "Atlantic group", named after the Hamburg hotel where the first such meeting was held, the office said.
"In addition to this 'Atlantic group', a number of sausage makers colluded in jointly raising prices to the retail sector," the statement said.
The agreements were mostly reached via telephone calls.
In its latest annual report, published last week, the cartel office said it expected to slap a record number of fines for anti-competitive practices this year.
Already in February, the watchdog fined three large sugar producers -- Pfeifer & Langen, Suedzucker and Nordzucker -- 280 million euros for price fixing.
And more than 10 breweries were fined more than 300 million euros at the beginning of the year for fixing beer prices between 2006 and 2008.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

german sausage makers fined for price cartel german sausage makers fined for price cartel

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

german sausage makers fined for price cartel german sausage makers fined for price cartel

 



GMT 09:35 2017 Sunday ,29 October

Hamas official says unity deal to remain

GMT 13:31 2018 Tuesday ,30 October

Women wrestlers take on tradition in south Iraq

GMT 17:47 2017 Thursday ,26 January

Mogherini grants Bar Elias school 10 thousand Euros

GMT 16:16 2017 Thursday ,20 April

HH the Emir Visits Railway Project

GMT 11:02 2017 Thursday ,05 October

Trump weighs 'decertifying' Iran nuclear deal

GMT 10:30 2016 Thursday ,29 September

Pakistan fury after India conducts 'surgical strikes'

GMT 13:44 2017 Saturday ,26 August

Kuwaiti FM receives letter from Iraqi counterpart

GMT 14:40 2017 Wednesday ,09 August

AS FAR's denies subjecting player
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday