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Federal Antimonopoly Service of the Russian Federation

Russian Version

FAS INITIATED PROCEEDINGS AGAINST THE LARGEST MANUFACTURERS OF WHEELS FOR RAILWAY WAGONS

08-06-2023 | 11:03

VMZ, EVRAZ NTMK and EVRAZ TK unreasonably inflated prices for their products in the 3rd quarter of 2022

Analysis of the economic activity indicators of the companies showed that the prices set by them during the period exceeded the amount of necessary expenses and profits for production and sale.

FAS Russia analyzed the state of competition in the market of solid-rolled wheels for railway wagons. The authority found that this market is highly concentrated and is characterized by the presence of barriers, and access to it requires significant time and financial costs. At the same time, VMZ JSC, EVRAZ NTMK JSC and EVRAZ TK LLC are the largest manufacturers and occupy a dominant position in this market.

The authority initiated three cases of violation of antimonopoly legislation* against VMZ JSC, EVRAZ NTMK JSC and EVRAZ TK LLC.

If found guilty, organizations face fines in accordance with the Administrative Code of the Russian Federation.

* On the grounds of violation of Paragraph 1 of Part 1 of Article 10 of the Law on Protection of Competition

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