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EU Fines 14 Companies under Shell leadership for Price Fixing in Dutch Road works - by Raf Casert
The European Union fined 14 companies involved in Dutch road works a total of euro267 million (US$340 million) Wednesday, ruling that they had run a cartel over eight years to fix the price of a key asphalt ingredient. Royal Dutch Shell PLC has to pay by far the highest fine in the road bitumen probe with euro108 million (US$137 million). In a statement, the EU Commission said the company was an instigator, took the leadership in the cartel and was a repeat offender.
"We should not have attended these meetings and we regret our involvement in this case," President-Director Rein Willems of Shell Nederland BV said in a statement.
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