(Bloomberg) -- Electrical equipment makers Schneider Electric SE and Legrand SA were fined by French antitrust regulators alongside their distributors Rexel SA and Sonepar a total of €470 million ($510 million) over a price fixing pact.
The French competition authority on Wednesday said that the two manufacturers colluded with distributors to fix prices for low-voltage electrical equipment through a special price agreement mechanism.
In addition to these penalties, the companies were charged in 2022 as part of a parallel criminal case in France. No decision has been made about whether they should face trial.
Schneider was hit with the heaviest penalty of €207 million while Rexel was fined €124 million. Sonepar was ordered to pay €96 million and Legrand €43 million.
Schneider, Rexel and Legrand all said in statements that they disagree with the competition authority’s reasoning and may appeal. Sonepar said it “firmly contests” the French findings and will challenge the fine.
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