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Staffordshire, U. S in France have pleaded guilty to participating in a marine hose price fixing conspiracy. On Nov. District Court in Fort Lauderdale, Fla.

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Staffordshire, U. S in France have pleaded guilty to participating in a marine hose price fixing conspiracy. On Nov. District Court in Fort Lauderdale, Fla.

The conspiracy, which came to light in May, saw price fixing of marine hose and related products over an eight-year period. Executives from several high profile companies are said to have participated in the cartel, discussing the setting of prices and allocation of market share at meetings and by telephone, fax and e-mail.

Advertisement Caleca and Cognard were amongst eight international executives, were arrested in the U. The maximum financial penalty may be increased to double the gain derived from the crime or twice the loss suffered by the victims of the crime if either of those amounts is greater than the statutory maximum fine.

Magazine Current Issue Past Issues. Connect with us. Advertise Subscribe Contact Us. By Tire Review Staff. Caleca and Cognard were amongst eight international executives, were arrested in the U. In this article:. Click to comment. Tire Discounters Grows to Retail Stores.

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