On 5th May 2008, the «Elektrostal» Metallurgical Plant» OJSC informed the Federal Antimonopoly Service (FAS Russia) about paying 3 344 000 Rubles fine imposed upon the company under Article 14.31 of the Code of Administrative Violations for abusing dominant position.
The abuse was established in course of processing the case, initiated by FAS Russia on 29th February 2008 against the «Elektrostal» Metallurgical Plant» OJSC.
The «Elektrostal» Metallurgical Plant» OJSC violated Clause 1 Part 1 Article 10 of the Federal Law «On Protection of Competition» by fixing and maintaining monopolistically high prices on ring blanks in July-October 2007.
Having considered the case, FAS Russia issued the determination requesting the «Elektrostal» Metallurgical Plant» OJSC to stop violating the antimonopoly legislation.
Furthermore, Article 14.31 of the Code of Administrative Violations specified administrative liability for such offences: fine in the amount of 1 - 15% of the proceeds from the goods sales gained by the violator on the market where the violation had occurred.
The «Elektrostal» Metallurgical Plant» OJSC was fined 3 344 000 Rubles.
