ArcelorMittal found guilty of price fixing

Metals , Steel Jun 30, 2010 No Comments

European Union regulators on Wednesday fined steel producer ArcelorMittal euro276 million ($337 million) for secret deals to fix steel prices for nearly two decades with 16 other steel makers.

ArcelorMittal, the world’s largest steel maker, received the largest fine based on the size of its operations and revenues — but also won a reduction for cooperating with investigators. It says it educates workers to make sure all business activity meets legal and ethical standards.

The Associated Press: EU fines steel producers for cartel.

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Angela Bonnell

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