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20 January 2010

Charity donation ends cartel proceedings

Investigations against Whirlpool International's president Paulo Periquito and other employees into their involvement in alleged anti-competitive activities by Embraco, have been suspended on the condition they donate to charity.
Brazilian prosecuters will drop all proceedings against the individuals after three years, if the individuals concerned comply with court conditions to donate to a charity and a government fund and periodically reporting to authorities.

The payments were not disclosed but reports suggest it amounts to just over £1 million and eight members of staff were involved.

Reports indicate investigations into Danfoss, Panasonic, ACC and Tecumseh continue.

Last September, Whirlpool's subsidiary Embraco, agreed to pay $56.5 million to end an anti-trust investigation by the Brazilian authorities.
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