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EU regulators charge 5 lead recyclers for taking part in cartel

Reuters - UK Focus

BRUSSELS, June 24 (Reuters) - European Union antitrust regulators charged five companies on Wednesday for taking part in a car battery recycling cartel in Belgium, France, Germany and the Netherlands over a four-year period starting from 2009.

"The (European) Commission alleges in its statement of objections that these companies agreed or coordinated their behaviour only in order to maintain higher profit margins," the EU executive said in a statement.

"As a result, they may have lowered the prices paid to scrap dealers, many of which are small and medium-sized companies," it said, without naming the cartel members.

Four of Europe's top lead recyclers, Ecobat, JCI , Recylex and Campine (Brussels: CAMB.BR - news) were investigated by the Commission, sources told Reuters after dawn raids by the EU competition authority in 2012. (Reporting by Foo Yun Chee, editing by Julia Fioretti)