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Financial News: BRAZIL: Regulator Investigates Cartel In Global Hard-drive

BRAZIL: Regulator Investigates Cartel In Global Hard-drive Component Market

04/04/2018 - 14:22:00 (RTTNews)

(RTTNews) - Brazilian regulators are investigating an alleged international cartel formation involving five manufacturers of hard-drives - Hutchinson Technology, Magnecomp Precision, NHK Spring, TDK Corporation and SAE Magnetics.

The Brazilian competition regulator, known as CADE, will probe if the companies rigged prices of so-called "suspension assemblies" - a hard disk component which holds the position of a magnetic media reader on the surface of a spinning disc.

According to CADE, there is evidence that the companies divided the market and combined prices in response to requests for quotation from customers. "The companies also shared competitively sensitive information," CADE said.

According to the regulator, anti-competitive practices would have been conducted by at least 38 individuals linked to business and implemented through meetings and e-mail exchanges at least between 2003 and May 2016.

The companies should be notified to present their defense arguments.

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