Dow Jones reported that German metal producer ThyssenKrupp AG Wednesday lost a court battle to overturn a EUR 3.17 million cartel fine imposed by the European Commission in 2006.

The European Court of First Instance upheld the fine that had been imposed for a second time by the commission after a first fine levied in 1998 was annulled on procedural grounds.

ThyssenKrupp was fined EUR3.17 million for its role in fixing the price of a major component of stainless steel with competitors between 1993 and 1994.

(Sourced from Dow Jones)