FAS DECISION HALVED PRICES FOR LOCK-AND-SEAL DEVICES FOR END USERS

Courts of two instances confirmed legitimacy of an act issued by the Antimonopoly Service on a cartel case

In March 2018 FAS found that “STRAZH” Engineering-and-Industrial Concern” JSC” “Trans-Plombir” Ltd., “Sotek Kom Centre” Ltd., “KZMI” Trading House” Ltd. and “OTsV” CJSC violated the Law “On Protection of Competition”.

The cartel resulted in fixing and maintaining prices for lock-and-seal devices, as well as dividing the market.

FAS also found that “OTsV” CJSC violated the antimonopoly law by coordinating economic activity of the above economic entities.

Head of FAS Anti-Cartel Department, Andrey Tenishev, pointed out: “The decision of the antimonopoly body formed the grounds for educing the purchasing prices for lock-and-seal devices for end users by two and more times saving hundreds of million RUB for each company. FAS actions also restored competition on the market of lock-and-seal devices. Administrative cases were opened against the violators, the size of the fines will be determined”.