On 1st October 2008, the Federal Antimonopoly Service (FAS Russia) recognized that «Ruspolimet» OJSC breached Clause 1 Part 1 Article 10 of the Federal Law «On Protection of Competition» (abusing dominant position and fixing and maintaining monopolistically high prices).
The case against «Ruspolimet» OJSC was initiated upon a petition from the «Salut» Moscow Machine-Building Production Company» Federal State Unitary Enterprise.
«Ruspolimet» OJSC violated the antimonopoly laws by fixing in January 2006 - October 2007 monopolistically high prices for ring blanks made of nickel-containing alloy (grade EP708-vd), that are used in manufacturing aircraft engines.
FAS Russia will issue the decision and determination on the case within the statutory period. Determining the fine and issuing the determination, the FAS Russia's Commission will take into account that «Ruspolimet» OJSC has voluntarily reduced priced for its products and admitted the antimonopoly violation.
Under Article 14.31 of the Code of the Russian Federation on Administrative Violations, abusing dominant position is liable by administrative fine upon legal persons - 1 - 15% of the net sales of the violator on the market where the violated occurred in the year preceding the year, when the violation was revealed, but no more than 2% of the net proceeds from all goods.
