Outokumpu fined price fixing
European Commission gave its judgement on Outokumpu’s participation in a European price-fixing and market-sharing cartel regarding copper air-conditioning tubes during 1988-2001. Outokumpu was imposed a fine of EUR 18 million for the participation. In 2004 Outokumpu appealed to the Court of First Instance for Europe with respect to the grounds for the calculation and the amount of the fine. According to the Court decision on May 6, 2009 the fine remains unchanged.Outokumpu booked a EUR 18 million provision for the fine in 2003, which means that this decision will have no profit impact.
Outokumpu has exited from the copper fabrication business by divesting the major part of the business in 2005 and the remaining in April 2008.
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