Outokumpu Hit With Damage Claim Over Price-Fixing Cartel

Law360, New York (October 16, 2012, 4:11 PM EDT) -- Finnish stainless-steelmaker Outokumpu Oyj said Tuesday it has been sued by Swedish metal company Boliden AB, which reportedly wants Outokumpu to pay for some of the damages from a lawsuit that claimed Boliden and others fixed prices for copper tubing.

Both Boliden and Outokumpu were fined by the European Commission in 2004 for participating in a cartel to inflate the prices of sanitary copper tubing, paying €33 million (US$53.13 million) and €36 million, respectively. After the fines were upheld in December, construction supplier Travis Perkins PLC...
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