Fridge firm investigated for price fixing

AUSTRIA: The Austrian competition authority Bundeswettbewerbsbehörde has reported that it is investigating an unnamed refrigeration equipment manufacturer for alleged anti-competitive practices.

The company, said to be active in the development and production of domestic and commercial refrigeration and freezing equipment, is suspected of vertical price fixing. 

Backed by a warrant issued by the Higher Regional Court of Vienna, a “dawn raid” took place on Tuesday (April 18). The investigation is currently ongoing.

According to European competition law, all agreements that prevent or restrict competition are prohibited. In particular, agreements on prices, restrictions on production or sales, and the division of markets are prohibited. 

In the event of a breach of the cartel act, fines of up to 10% of a company’s total turnover for each year of the cartel can be imposed.