Investigation on Asmaş Heavy Industry Materials Manufacturing and Trading Inc., Kümaş Magnesite Industry Inc. and Piromet Pyrometallurgy Materials Refractory Machinery Industry and Trading Inc. Concluded

"On 11/05/2023, the Turkish Competition Authority launched an investigation into Asmaş Ağır Sanayi Malzemeleri İmal ve Ticaret AŞ, Kümaş Manyezit Sanayi AŞ, and Piromet’ Pirometalurji Malzeme Refrakter Makine Sanayi ve Ticaret AŞ for allegedly violating Article 4 of the Act no 4054 on the Protection of Competition. The investigation concerned concerted practices in tenders initiated by private undertakings for refractory materials. The Competition Board concluded that ASMAŞ’s and PİROMET's conduct aimed at fixing prices was in violation, imposing administrative fines of 8,316,022.13 TL and 6,854,747.87 TL on the undertakings respectively. KÜMAŞ was not fined as there were no findings to suggest a violation."