Arcelor Mittal Units Hit With €10M Cartel Fine

Law360 (November 8, 2006, 12:00 AM EST) -- The European Commission has fined three subsidiaries of steel giant Arcelor Mittal a total of €10 million for their alleged involvement in a cartel in the market for steel beams between 1988 and 1999, revisiting an earlier decision that was overturned on technical grounds by Europe’s highest court.

The three companies ran afoul of Article 65 of the European Coal and Steel Community Treaty and Article 81 of the EC Treaty when they fixed prices and traded confidential information about the steel beams industry, according to the Commission.

The companies being fined are Arcelor Luxembourg SA, Arcelor International SA and Arcelor...

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