GVH fines Tessanderlo Ft 131 mln
Thursday, June 30, 2005, 08:09
Hungary's Competition Office (GVH) decided yesterday to fine Belgian fertilizer maker Tessanderlo Ft 131 million for operating a cartel in Hungary with Finnish peer Kemira, online business site portfolio.hu reported. Kemira does not have to pay any fine, because it informed GVH of the cartel. In 2003 GVH introduced a leniency policy, similar to that in the EU, which allows companies operating in cartels to escape punishment if they inform the authorities. Tessanderlo also received a reduction in its fine after it agreed to cooperate with GVH. The two companies were found to have colluded on the Hungarian market since the early nineties.