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

Techtronic Industries Co

01/12/2023 24:48

Dec 1 (Reuters) - Australian competition regulator said
on Friday it had ordered Hong Kong-based Techtronic Industries
 0669.HK  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;))