Europe Cracks Offshore Cabling Cartel

GALWAY, IRELAND--April 9, 2014 --Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) The European Commission (E.C.) has cracked down on a long-running offshore cabling cartel and fined 11 companies a total of €301.6 million ($415 million).

The European and Asian companies, which provide underground and submarine high voltage power cables to connect offshore windfarms to the mainland as well cabling for interconnecting electricity grids in different European countries, were found guilty of colluding on price fixing for more than a decade