Canada’s Competition Bureau has announced that Mitsubishi Corp. was convicted and fined $1 million by the Ontario Superior Court of Justice for aiding and abetting the implementation in Canada of a foreign-directed conspiracy to fix the price of graphite electrodes.

Members of the cartel agreed to fix the prices of graphite electrodes sold in Canada and around the world over a time period from 1992 to 1997. A former Mitsubishi manager facilitated a number of conspiracy meetings by arranging transportation and acting as a translator for the cartel's members. During the conspiracy, Canadian prices for graphite electrodes used in steel production nearly doubled.

Tokyo-based Mitsubishi is the sixth party convicted in Canada in relation to the graphite electrodes cartel. During the period between February 1991 and January 1995, Mitsubishi was a part owner of the graphite electrode manufacturer UCAR International Inc. (now GrafTech International Ltd.) and also a trader of graphite electrodes elsewhere in the world.

The Canadian subsidiary of the U.S.-based UCAR International Inc, UCAR Inc., the German corporation SGL Carbon AG, and the Japanese company Tokai Carbon Co., Ltd. were fined a total of nearly $24 million for participating in the conspiracy. Two former executives of UCAR International also pleaded guilty and were fined a total of $120,000.

Canada’s Competition Bureau is an independent law enforcement agency that promotes and maintains fair competition so that all Canadians can benefit from competitive prices, product choice and quality service. It oversees application of the Competition Act, the Consumer Packaging and Labeling Act, the Textile Labeling Act and the Precious Metals Marking Act.