Italian Competition Authority fines cast iron producers EUR 70 million for long-term price manipulation
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Update time : 2026-01-07 14:46:02
The Italian Competition Authority (AGCM) recently completed a long-term investigation into the cast iron industry, finding several foundry companies and the trade association Assofond involved in systemic price coordination, imposing fines totaling EUR 70 million.
The regulator stated that these companies had been weakening market competition for years by sharing key business information and jointly using a price index mechanism to adjust prices. This behavior dates back to 2004 and has a wide-ranging impact.
While higher fines could have been imposed under the law, the amount was reduced considering the industry's recent deterioration. Assofond criticized the ruling as inappropriate, expressing concern that it will further impact the industry structure and employment.
