Former CEO Admits to Restrictive Deal to Block Rival’s Expansion in California Rebar Market During Antitrust Trial
Washington, D.C. — In a dramatic turn of events during a federal antitrust trial on Monday, the former CEO of Commercial Metals Co. admitted that the company entered into a contentious agreement with Danieli Corp., a prominent micromill manufacturer. This agreement effectively prohibited Danieli from collaborating with any competing rebar mills in California soon after it was discovered that Pacific Steel Group intended to establish a facility in Southern California using Danieli’s technology. The revelation surfaced at the trial, which is scrutinizing the legality of the exclusivity provision that was brokered shortly after Commercial Metals … Read more