Today ACCC announced that the Federal Court has found that BlueScope Steel Limited and its earlier general manager of sales and marketing, Mr. Jason Ellis, engaged in cartel conduct concerning the delivery of flat steel products in Australia. The court found that from September 2013 to June 2014, the company and its general manager tried to induce eight steel distributors in Australia, and a foreign manufacturer, Yieh Phui, to enter contracts to fix and raise the pricing level for flat steel products delivered in Australia.
The court has scheduled a hearing on penalties and other orders for 03 April 2023. In conjunction with seeking penalties against both BlueScope and Mr. Ellis, the ACCC is also looking for an order prohibiting Mr. Ellis from managing companies for a particular period to be determined by the court.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.