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EC Fines Marine Hose Makers $173M In Cartel Probe

Law360 (January 28, 2009, 12:00 AM EST) -- The European Commission has fined a group of marine hose makers $173 million for allegedly participating in an international market-sharing and price-fixing cartel that spanned more than two decades.

The penalties handed down by the European competition regulator come on the heels of action by U.S. authorities, which have secured guilty pleas from nine company executives in its ongoing probe into the marine hose industry.

The five firms — Japan's Bridgestone Corp.; Sweden's Trelleborg; British-based Dunlop Oil & Marine Ltd., a unit of Germany's Continental Group...
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