Join our crew and become one of the 104,727 members that receive our newsletter.

Italian to Serve Two Years Over Marine-Hose Price-Fixing Scheme

Italian to Serve Two Years Over Marine-Hose Price-Fixing Scheme

Reuters
Total Views: 17
April 25, 2014

ReutersWASHINGTON, April 24 (Reuters) – A former executive of Parker ITR Srl pleaded guilty on Thursday to conspiring to rig bids for marine hose and was sentenced to two years in prison, the U.S. Justice Department said on Thursday.

Romano Pisciotti, who is Italian, had been flown into the United States from Germany in early April in the first extradition on charges of breaking antitrust law, the department said.

Marine hose is used to move oil between storage facilities and tankers.

Five companies – Parker ITR, Bridgestone Corp, Trelleborg, Dunlop Marine and Oil Ltd, and Manuli Rubber Industries SpA, a Florida subsidiary of Manuli SpA – have pleaded guilty to price-fixing in the marine hose industry, the department said. (Reporting by Diane Bartz; Editing by Phil Berlowitz)

© 2014 Thomson Reuters. All rights reserved.

Tags:

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up
Back to Main
polygon icon polygon icon

Why Join the gCaptain Club?

Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.

Sign Up
close

JOIN OUR CREW

Maritime and offshore news trusted by our 104,727 members delivered daily straight to your inbox.

Join Our Crew

Join the 104,727 members that receive our newsletter.