An investigation over possible price-fixing by BlueScope employees is still going more than a year later.
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On August 21 last year, at the company’s financial year announcement former CEO Paul O’Malley said the Australian Competition and Consumer Commission (ACCC) was investigating employees for possible cartel behaviour.
Cartel conduct can include illegal measures like price fixing or restricting supply.
“Over the last financial year the ACCC has been investigating potential cartel conduct by BlueScope relating to the supply of steel products in Australia that involved a small number of BlueScope employees in the period from late 2013 to mid 2014,” Mr O’Malley said at the time.
He added that BlueScope was co-operating with the ACCC.
At this month’s announcement of the company’s $1.5 billion profit, new CEO Mark Vassella said the cartel investigation had not finished.
“The investigations is continuing so as you can appreciate, it’s not really something we can talk about,” Mr Vassella said.
“We’re uncertain when it will conclude and we’re uncertain what the outcome will be.”
It is not known whether any employees at the Port Kembla steelworks are part of the investigation.
An ACCC spokeswoman said they were “unable to comment about complaints or potential investigations into specific businesses”.
Glen Humphries
I'm an award-winning senior journalist with the Illawarra Mercury and have well over two decades' worth of experience in newspapers. I cover the three local councils in the Illawarra for the Mercury, state and federal politics, as well as writing for the TV guide. If I'm not writing, I'm reading.
I'm an award-winning senior journalist with the Illawarra Mercury and have well over two decades' worth of experience in newspapers. I cover the three local councils in the Illawarra for the Mercury, state and federal politics, as well as writing for the TV guide. If I'm not writing, I'm reading.
