Australia's BlueScope's appeal against civil cartel case dismissed (updated)

BLUESCOPE STEEL

29/08/2025 04:09

Updates with details and background from paragraph 2

Aug 29 (Reuters) - Australia's competition regulator said on Friday that appeals by steel producer BlueScope BSL.AX and its former general manager against an earlier decision in a civil cartel proceeding brought by it were dismissed by the court.

The court upheld its previous findings that BlueScope and the former general manager tried to get distributors in Australia and an overseas manufacturer to enter into agreements with price-fixing provisions between September 2013 and June 2014.

Australia's competition regulator had in 2019 initiated civil cartel proceedings against the company and the former employee for alleged cartel conduct in the supply of flat steel products.

The decision means that a competition law breach penalty of A$57.5 million ($37.36 million) against BlueScope, and a penalty of A$500,000 against the general manager remain in place, the Australian Competition & Consumer Commission said.

BlueScope in a separate statement said it accepts the court decision, bringing the long-standing matter to a close.

Shares of the company were up by 0.9% while the broader benchmark S&P/ASX 200 .AXJO index was largely flat by 0304 GMT.

($1 = 1.5389 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru; Editing by Mrigank Dhaniwala)

 ((Sherin.Sunny@thomsonreuters.com;))