Norway: European Commission begins three-day hearing investigating salmon price-fixing cartel allegations

Published 2024년 9월 17일

Tridge summary

The European Commission (E.C.) has initiated a three-day hearing into price-fixing allegations against six leading Norwegian salmon-farming companies: Mowi, Cermaq, Grieg, Bremnes, Lerøy, and SalMar. The investigation, which began in February 2019, accuses the companies of breaching E.U. antitrust rules by colluding to distort competition in the market for spot sales of Norwegian-farmed Atlantic salmon in the E.U. between 2011 and 2019. If found guilty, each company could face a fine of up to 10 percent of their annual global sales. The companies have previously denied the price-fixing allegations and are currently facing lawsuits in the U.K. and Canada, as well as a settlement in the U.S.

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Original content

The European Commission has commenced a three-day hearing investigating price-fixing cartel allegations against six leading Norwegian salmon-farming companies.The E.C. announced in January 2024 it was advancing an investigation into price fixing in the spot market. It alleges Mowi, Cermaq, Grieg, Bremnes, Lerøy, and SalMar breached E.U. antitrust rules by colluding to distort competition in the market for spot sales of Norwegian-farmed Atlantic salmon in the E.U. between 2011 and 2019, including exchanging commercially sensitive information. The E.C. commenced a three-day hearing on the issue, led by senior E.C. antitrust officials, on Monday, 16 September, that will run through 18 September, according to Reuters. European antitrust officials and watchdog groups may also ben invited into the closed-door hearing, Reuters reported, citing the named companies and three people with direct knowledge of the matter.SalMar and Grieg confirmed company representatives will be attending the ...

Source: Seafoodsource