British battery recycling firm among three fined by EU for forming cartel
The European Union has fined three battery recycling companies a combined 43.5 million euro (£37 million) for forming a cartel that artificially kept the purchasing price for used car batteries low.
EU antitrust chief Margrethe Vestager said the companies were purposely "reducing competition in this essential link of the recycling chain".
US company Johnson Controls received full immunity because it revealed the cartel to the EU, but British firm Eco-Bat Technologies was ordered to pay 32.7 million euro (£27.8 million) and Recyclex from France 2.7 million euro (£2.3 million).
Campine, of Belgium, has to pay 8.1 million euro (£6.9 million).
The EU recycles practically all of its car batteries.
By keeping the purchasing price low, the companies hurt used battery sellers, mainly small and medium-sized companies.