Tuesday, December 22, 2009

German coffee makers fined for massive price-fixing scheme

Coffee lovers have been overpaying in Germany, the competition watchdog announced this week as it slapped fines totalling €159.5 million on three of the country’s biggest coffee makers, Tchibo, Melitta and Dallmayr.

The Federal Cartel Office, or Bundeskartellamt, uncovered multiple instances of "price architecture" going back to the beginning of 2000. The three coffee giants secretly colluded on price hikes, dramatically pushing up the price of filter coffee, espresso, coffee pads and beans.

The fines were imposed on the firms along with six employees involved in the fixing.

To read more: http://www.thelocal.de/national/20091222-24107.html

Thought this might be of interest to you, as you like to drink coffee so much. :-D
IMYSM!

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