MOSCOW, Jun 8 (PRIME) -- Russia’s Federal Antimonopoly Service has launched antimonopoly cases against the rail wheel producing subsidiaries of Evraz and United Metallurgical Company (OMK) over ungrounded overpricing in July–September 2022, the service said in a statement on Thursday.
OMK’s unit Vyksa Steel Works and Evraz subsidiaries Evraz NTMK and Evraz TK raised prices for their rail wheels in the period without reason. The service analyzed the companies’ economic activities and discovered that their prices exceeded the necessary costs and profits from production and sales.
“The service analyzed the situation of competition on the market of all-rolled wheels for rail cars. The service discovered that the market is highly concentrated and has barriers, while access to it would take significant time and monetary expenditures,” it said.
“At the same time, Vyksa Steel Works, Evraz NTMK, and Evraz TK are the biggest producers and they hold a dominating position on the market. The authority has launched three cases on violation of antimonopoly legislation.”
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