BRIEF-ACCC Announces Penalty For Resale Price Maintenance Conduct By Power Tool Supplier Techtronic

Reuters2023-12-01

Dec 1 (Reuters) - ACCC:

* RECORD PENALTY FOR RESALE PRICE MAINTENANCE CONDUCT BY POWER TOOL SUPPLIER TECHTRONIC

* TECHTRONIC HAS BEEN ORDERED TO PAY PENALTIES TOTALLING A$15 MILLION

* TOTAL PENALTIES, ORDERED BY FEDERAL COURT, ARE THE HIGHEST IMPOSED FOR RESALE PRICE MAINTENANCE IN AUSTRALIA

* PENALTIES AFTER TECHTRONIC ADMITTED HAD ENGAGED IN RESALE PRICE MAINTENANCE CONDUCT ON MILWAUKEE BRANDED PRODUCTS, ETC

* COURT ORDERED TECHTRONIC TO POST CORRECTIVE NOTICES ON WEBSITE AND TO DEALERS, IMPLEMENT COMPLIANCE PROGRAM AND PAY PART OF THE ACCC’S COSTS

* TECHTRONIC ADMITTED TO ENGAGING IN RESALE PRICE MAINTENANCE, AND COOPERATED WITH ACCC

Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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