BSL bluescope steel limited

(Adds comment from ACCC, details) Aug 30 (Reuters) -...

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    (Adds comment from ACCC, details)

    Aug 30 (Reuters) - Australia's competition regulator on Friday said it started civil proceedings against BlueScope Steel (BSL) for alleged cartel conduct in the supply of flat steel products.

    The Australian Competition & Consumer Commission (ACCC) said Bluescope and a former general manager of sales and marketing, between September 2013 and June 2014, tried to get distributors in Australia and overseas manufacturers to sign agreements with price fixing provisions.

    "This matter involves allegations of serious cartel conduct," ACCC's Chair Rod Sim said in a statement.

    The regulator added that it is seeking penalities and costs against BlueScope and the former employee, who they were also looking to disqualify from managing corporations.

    The Commonwealth Director of Public Prosecutions is working with the ACCC on the matter, the regulator said.

    BlueScope was not immediately available for a comment.

 
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Last
$22.29
Change
0.190(0.86%)
Mkt cap ! $9.776B
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