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. Last Updated: 07/27/2016

Alcoa Unit Faces Fine From Regulator

The Federal Anti-Monopoly Service said Wednesday that the local unit of Alcoa, the largest U.S. aluminum producer, would be fined after "abusing its dominant position in the market."

Alcoa Russia set "monopoly-high prices" on some aluminum products and may be penalized as much as 2 percent of revenue, the service said in a statement on its web site. The unit cooperated with the anti-monopoly service's probe, said Oleg Kalinsky, a spokesman for Alcoa Russia. He declined to comment further until the service makes its final ruling and sets the size of the fine.

The company was investigated after a complaint about prices in 2007 and 2008 from Oboronpromcomplex, a Russian arms maker, the service said. Alcoa bought two Russian plants four years ago. The watchdog will take into account measures the unit has taken to reverse the violation, the statement said.