FTC to instruct aluminum foil makers to scrap price cartel.
TOKYO, Nov. 6 KyodoThe Fair Trade Commission is expected to instruct six aluminum foil makers to scrap a price cartel that allegedly set the timing and range of price hikes of aluminum foil, according to industry sources.
The government antimonopoly watchdog believes the six companies decided on the price hikes three times through meetings of executives from 2002 to 2004 in violation of the Antimonopoly Law, they said.
The six makers accused by the FTC are: Toyo Aluminium K.K. of Osaka, Mitsubishi Aluminum Co. of Tokyo, Nippon Foil Mfg Co. of Tokyo, Sumikei Aluminum-Foil Co. of Tokyo, Tokai Aluminum Foil Co. of Yokohama and Sun Aluminium Ind. Ltd. of Chiba.
The six companies have more than 90 percent of the annual 100 billion yen domestic market of aluminum foil, which is mainly used for cooking and wrapping.
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| Publication: | Japan Transportation Scan |
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| Geographic Code: | 9JAPA |
| Date: | Nov 7, 2005 |
| Words: | 139 |
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