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E.U. Smacks Bitumen Cartel With €266M Fine

Law360 (September 13, 2006, 12:00 AM EDT) -- The European Commission has hit 14 companies with a massive €266.717 million fine, punishing a longstanding cartel that conspired to fix the prices of bitumen, an asphalt material used in road construction, in the Dutch market.

The Commission handed down the penalty on Wednesday, blasting the eight suppliers and six purchasers that engaged in the anti-competitive practices from 1994 to 2002.

The move wrapped up a nearly four-year investigation into the market. Oil giants Total and Shell, as well as a group of Dutch construction firms,...
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