Authority investigates milling cartel
Hungary's competition office (GVH) said it started a procedure against eleven milling companies suspected of cartel activity.
GVH said it carried out surprise investigations at the offices of Abo Holding Vagyonkezelő, Cerbona Élelmiszeripari és Kereskedelmi, Első Pesti Malom- es Sütőipari, Gyermely Élelmiszeripari, Hajdúsági Gabonaipari, HEFELE Malomipari, Júlia-Malom Élelmiszeripari es Kereskedelmi and Szatmári Malom Termelő es Kereskedelmi on June 3. The other three companies under investigation are Diamant International Malom Kft, Pannonmill Malomipari Zrt and Siker Malomipari Feldolgozó es Kereskedelmi.
GVH said the companies set prices and colluded in public procurement tenders according to available information. They also discussed establishing a slush fund to keep foreign competitors, including milling companies from the EU, out of the market. (MTI – Econews)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.