Panasonic, Others Fined €161M Over Fridge Cartel

Law360, New York (December 07, 2011, 1:11 PM ET) -- The European Commission has fined four producers of household refrigeration compressors, including Panasonic Corp., a combined €161.2 million for operating a cartel throughout the European Economic Area from April 2004 until October 2007, the commission said Wednesday.

Appliances Components Companies SPA, Danfoss A/S and Whirlpool Corp. subsidiary Embraco Europe SRL were also hit with penalties. Tecumseh Products Company Inc., meanwhile, escaped fines because it revealed the existence of the cartel to the EC, benefiting from immunity under the 2006 Leniency Notice.

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