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German antitrust watchdog fines Thyssen, Salzgitter, Voestalpine

FILE PHOTO: Elevators are seen at the Thyssenkrupp headquarters in Essen, Germany, November 21, 2019. REUTERS/Leon Kuegeler

FRANKFURT (Reuters) - Germany’s cartel authority said on Thursday it was fining the country’s two large steel makers Thyssenkrupp and Salzgitter as well as Austria’s Voestalpine for price fixing.

The agency is fining the companies and three individuals a combined 646 million euros ($712 million) after establishing that they had agreed on certain surcharges for steel plates in Germany from 2002 to 2016.

Voestalpine said it had agreed to pay a fine of 65.5 million euros.

Thyssenkrupp, which has set aside 370 million in provisions for the case, declined to comment.

Salzgitter had no immediate comment.

Reporting by Arno Schuetze; editing by Thomas Seythal

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