Major Appliance Makers Fined €611m for Price-Fixing in France
The French antitrust authority fined 12 appliance companies, including Electrolux, Whirlpool, and LG, a total of €611 million for engaging in price-fixing from 2007 to 2014. Most of the companies involved did not contest the allegations, and responses from Electrolux, Whirlpool, and LG were not immediately available.
- Country:
- France
The French antitrust authority imposed a substantial fine of €611 million on 12 major household appliance manufacturers and distributors for being involved in price-fixing activities from 2007 to 2014. The companies fined include prominent names like Electrolux, Whirlpool, and LG.
Ten out of the 12 companies chose not to contest the allegations made by the authority. This significant legal action underscores the importance of fair market practices and competition regulation in the appliance industry.
As of now, representatives from Electrolux, Whirlpool, and LG have not responded to requests for comment regarding the fines. The legal exchange rate at the time of the announcement was $1 to 0.9625 euros.
(With inputs from agencies.)
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