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EU fines Ecobat, 2 others 68m euros for taking part in cartel

Wednesday, February 8, 2017 - 22:02

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EU antitrust regulators handed down a 68 million euro (S$102.8 million) fine to world No 1 lead recycler Ecobat Technologies and two of its peers on Wednesday for taking part in a cartel in recycling of car batteries.

[BRUSSELS] EU antitrust regulators handed down a 68 million euro (S$102.8 million) fine to world No 1 lead recycler Ecobat Technologies and two of its peers on Wednesday for taking part in a cartel in recycling of car batteries.

Ecobat's fine came to 32.71 million euros, while French peer Recylex's sanction was 26.74 million euros and Belgium's Campine 8.16 million euros.

Johnson Controls escaped a penalty as it alerted the cartel to the European Commission, confirming a Reuters story on Jan. 31. "The four companies fined today have colluded to maximise their profits made from recycling scrap batteries, reducing competition in this essential link of the recycling chain,"European Competition Commissioner Margrethe Vestager said in a statement.

REUTERS

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