The UK Competition and Markets Authority (CMA) has ordered Ausurus Group and its subsidiary European Metal Recycling (EMR) to pay penalties totalling ?300,000 for failing to comply with an enforcement order in relation to the scrap company's takeover of domestic rival Metal Waste Recycling (MWR) in 2017.
The CMA confirmed the fine against Ausurus and EMR earlier this month. The binding agreement for EMR to takeover MWR, a wholly-owned subsidiary of CuFe Investments, in August 2017 had prompted an investigation to assess the impact on domestic competition, resulting in an enforcement order by the CMA. The order effectively placed a number of restrictions on EMR in relation to the integration of its business with MWR, and the fine is due to non-compliance of that order, according to the CMA.The CMA said that the failures to comply comprised of directing the customers of the CuFe business to make payment into bank accounts of Ausurus and making payments to suppliers...