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GVH fines 16 bakery companies for cartel activity

Hungary's Competition Office (GVH) on Friday said it fined 16 bakery companies and the Hungarian Bakery Association a combined HUF 76.6 million for cartel activity.

The 16 companies were among 23 under investigation by GVH. The office found the 16 had coordinated price rises in August 2006 and February 2007.

GVH fined the bakery association HUF 5 million. It fined ALBA-KENYÉR Sütőipari HUF 3.6 million, BÁCSKA Sütő- és Édesipari HUF 1.8 million, Ceres Sütőipari HUF 7.2 million, Delta Pékség Sütőipari HUF 3.6 million, Európa-Pék Export, Import HUF 2.0 million, Ferrosüt Sütő- és Édesipari HUF 8.0 million, Jász-Sütőház HUF 4.0 million, Karamell-Ingatlan HUF 2.0 billion, Kurdi Family Pék HUF 2.0 billion, Lővér Sütő HUF 3.6 million, Pannon Sütőipari HUF 7.2 million, Szolnoki Sütőipari HUF 10 million, Tatabányai Sütőipari HUF 3.6 million, Univer Coop HUF 4.0 million, Zalaco HUF 8.0 million and Zsemle '93 HUF 1.0 million. (MTI-ECONEWS)