Aussie regulator imposes $9.9 mln penalty on HK's power tool supplier Techtronic

Reuters2023-12-01

Dec 1 (Reuters) - Australian competition regulator said on Friday it had ordered Hong Kong-based Techtronic Industries

to pay a penalty of A$15 million ($9.92 million) after the power tool supplier admitted to engaging in resale price maintenance $(RPM)$.

RPM refers to goods suppliers specifying a minimum price below which a reseller must not supply, offer to supply, advertise, or display those goods for sale, the Australian Competition and Consumer Commission (ACCC) said in a statement.

($1 = 1.5122 Australian dollars)

(Reporting by Poonam Behura in Bengaluru; Editing by Rashmi Aich)

((Poonam.Behura@thomsonreuters.com;))

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RPM refers to goods suppliers specifying a minimum price below which a reseller must not supply, offer to supply, advertise, or display those goods for sale, the Australian Competition and Consumer Commission  said in a statement.  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