 |
|
Current group: can.legal
Canada assisting EU probe into price fixing, cartel allegations
|
|
| | From: | Edmund Fitzgerald | | Subject: | Canada assisting EU probe into price fixing, cartel allegations | | Date: | Thu, 20 Jan 2005 19:25:10 -0500 |
|
|
 | From:
http://www.cbc.ca/story/business/national/2004/05/25/euprobe_040525.html
Canada assisting EU probe into price fixing, cartel allegations
Last Updated Tue, 25 May 2004 14:33:19 EDT
CBC News
TORONTO - Canada's Competition Bureau is cooperating in an investigation by
European Union regulators into alleged price fixing and cartel arrangements
in the paper and forest products industry.
The EU competition authority carried out raids across Europe on Tuesday on
some of the world's largest paper making companies, including Finland's
UPM-Kymmene, Norway's Norske Skog and Finnish-Swedish firm Stora Enso.
UPM-Kymmene, the world's largest magazine paper maker, and Norske Skog, the
world's second biggest newsprint maker, both have operations in Canada.
The raids were conducted in "close co-ordination with competition
authorities in a number of EU countries, as well as the United States and
Canada, the European Commission said. "Surprise inspections are a
preliminary step in investigations into suspected cartels."
The commission added that the action "does not mean that the companies are
guilty of anti-competitive behaviour nor does it prejudge the outcome of the
investigation itself."
It did not say how many companies were involved or how long the
investigation might last, although one analyst said it could take years to
complete.
Canada's Competition Act requires that investigations be carried out in
private. A spokesman said he could confirm one was underway only because it
had already been made public by another party, but could offer no further
details.
|
|
|
| | |
|
 |