EU fines Ecobat, 2 others 68m euros for taking part in cartel
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[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
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
