OFT to clarify facts in marine hose cartel

ERJ staff report (SS) London -- The Office of Fair Trading has announced that it will release an official announcement regarding the marine hose cartel investigation, at an “appropriate time.”

The OFT said in a 13 Dec statement that it is unable to provide further comment at the moment, but has noted some inaccuracies in press reports, which it wants to correct and clarify.

The investigation into marine hoses, which are used to transfer oil, began in May 2007, when the OFT launched a criminal investigation into suspected cartel conduct in relation to the market.

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Press release from OFT