In the morning, KKV will tell you which industry and companies are affected by the cartel and what sanctions the agency will propose.
Competitiveand the Consumer Agency (KKV) is due to report today on a nationwide price cartel, which has been revealed in the agency ‘s reports.
Price cartels are very serious restrictions of competition that affect both the national economy and consumers. In the morning, KKV will tell you which industry and companies are affected by the cartel and what sanctions the agency will propose.
A price cartel is an arrangement in which companies in the sector agree on the prices of products to be sold to each other at the same level of production or distribution. In addition to sales cartels, companies can form purchasing cartels, in which case they buy, for example, intermediate products at pre-agreed prices.
Cartels are suspected of leading consumers or businesses to pay a higher price for inferior quality.
In Finland Much attention has been paid to the so-called asphalt cartel, in which the asphalt companies Lemminkäinen, led by a price cartel, charge an overcharge for municipal asphalting contracts mainly in 1994–1995 and 1998–2002. According to the judgment, the excess price was more than EUR 37 million.
The Supreme Administrative Court ordered seven companies to pay a total of EUR 82.5 million in cartel fines. Subsequently, the municipalities have also applied to the companies for compensation for the cartel.
Metsäliitto (now Metsä Group), Stora Enso and UPM were convicted in the Market Court of restricting competition in the timber trade. The cartel operated from 1997 to 2004, when UPM exposed the raw wood cartel to the Competition Authority. Metsäliitto and Stora Enso were fined a total of EUR 51 million, but UPM was released from the fines after the cartel came to light.
Forest owners who suffered from the timber trade cartel also later sought compensation from forest companies.
In 2006, Kone received fines of EUR 142 million from the EU Commission for an elevator cartel in Germany and the Netherlands from Finnish companies operating abroad.