Australian Body Fines Marine Hose Cartel Members $8M

Law360, New York (April 14, 2010, 1:42 PM EDT) -- An Australian court has fined four marine hose companies a combined $8.24 million for participating in an international price-fixing cartel.

The Federal Court in Melbourne ordered Dunlop Oil & Marine Ltd., Bridgestone Corp., Trelleborg Industrie SAS and Parker ITR SRL to pay penalties, the Australian Competition and Consumer Commission said Wednesday.

Trelleborg faces the highest fine and will be required to pay $3.2 million, with Dunlop paying the second-highest penalty at $2.68 million. Bridgestone will pay $1.68 million, and Parker faces a $675,000 penalty.

The ACCC...
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