Ethiopian Government Charges Steel Bar Producers for Price FixingJanuary 28, 2018 - Ethiopian Trade Competition and Consumer Protection Authority charged 21 local steel bar producers for price fixing following Ethiopia’s birr devaluation. The Ethiopian Trade Competition and Consumer Protection Proclamation prohibit such price fixing arrangements between any market actors in Ethiopia. Of the aforementioned 14 Ethiopian steel producers, three manufacture reinforcement bars, namely East Steel PLC, Habesha Steel Mills PLC and Saint Nail PLC On the other hand; the six are involved in manufacturing corrugated sheets. Among the producers of corrugated sheets included in the charge file, companies such as Ethiopian Steel Profile, Ethiopian Steel PLC, Kombolcha Steel Products Industry PLC (KOSPI), a subsidiary of MIDROC Technology Group and Bazeto PLC are the most notable. In addition, five Ethiopian producers of steel tubes and pipes, among them known brands like Walia Steel Industry PLC and Mame Steel PLC, are also among the group facing legal battle.

Source: Ethiopian News January 28, 2018 21:11 UTC