business
Tuesday 03 March 2015
Europe’s largest agro-dealers are visited by the Federal Cartel Office. The competition watchdog go on suspicion of illegal price-fixing by. In sight are the industry giants BayWa and Agravis.
Charts
On suspicion of illegal price-fixing in the wholesale of pesticides, the Bundeskartellamt large agricultural dealers throughout Germany has let search. Affected included the European market leader BayWa and Agravis. In addition, five companies and one association had been searched, said a spokesman for the competition authority.
The Authority go to the suspicion that there had been in the calculation and the definition of wholesale and retail prices anticompetitive agreements, said the spokesman. The nationwide search was carried out simultaneously at seven corporate locations and a bandage. In the action of some 45 people Bundeskartellamt and police were involved.
Europe’s agricultural dealer BayWa confirmed that office space at its headquarters in Munich were searched. This would include the suspicion that BayWa employees were involved in collusive behavior in the wholesale pesticides. The investigation period rich back to 2000. “The BayWa will cooperate fully with the Bundeskartellamt in all respects,” said BayWa CEO Klaus Josef Lutz. “It is our greatest interest that this matter fully investigated and possible misconduct is pursued with full force.”
Agravis emphasizes cooperation with authorities
More about
The number two in European agricultural trade, Agravis, confirmed that the competition authority was determined in the company’s headquarters in Hanover on suspicion of involvement of employees at competitive agreements. Agravis work cooperatively with the authorities. The .rwz (Raiffeisen Central Rhein-Main eG) was searched. A spokesman said the .rwz was ready to fully support the investigating authorities to bring clarity to the backgrounds.
The Federal Cartel Office itself did not have the name of the searched company and the association concerned. A search by employees of the Federal Cartel takes place on the basis of a court order. This requires an initial suspicion for an antitrust violation. The Authority stressed a search serves to clarify the facts and does not mean expressly that the parties concerned had actually made an antitrust infringement guilty. Pending the outcome of the proceedings presumed innocent.
Source: n-tv.de
Theme
No comments:
Post a Comment