KFTC Fines 4 Marine Hose Cos. Over Cartel

Law360, New York (May 18, 2009, 12:00 AM EDT) -- Following a slew of fines and criminal charges in other countries resulting from probes into the marine hose industry, South Korea's antitrust regulator has sanctioned four of the rubber products manufacturers in its first-ever penalization of an international bid-rigging cartel.

The Korea Fair Trade Commission has slapped Japan's Bridgestone Corp., the U.K.'s Dunlop Oil & Marine Ltd., France's Trelleborg Industrie SAS and Italy's Parker ITR Srl with 557 million South Korean won ($447,900) in fines for their parts in a cartel to fix prices, rig bids...
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