A PYMNTS Company

Colombia: Government fines paper cartel

By  |  January 3, 2017

Colombia’s competition authority has imposed fines on Kimberly Clark, Familia and Tecnoquímicas with a combined total of $66.4 million USD. The paper products companies have been accused of maintaining a decade-long cartel designed to manipulate prices in the disposable diaper market.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Colombia’s Superintendence for Industry and Commerce has found the companies guilty of engaging in cartel activities between 2001 and 2012, affecting the country’s economy and directly causing harm to over two million homes with children under 2 years old, for whom disposable diapers are considered a basic need.

    Spokespeople for the Superintendence expressed the severity of the companies’ violation of constitutional and legal obligations, as well as ethical and competition values, admonishing the companies for betraying consumers’ trust.

    Full Content: Noticias Logística y Transporte

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.