A PYMNTS Company

EU: Envelope cartel nixed in time for holiday cards

By  |  December 11, 2014

The European Commission announced $24.75 million in fines for several envelope manufacturers after authorities found evidence of price-fixing, say reports.

The Commission announced the penalties Thursday against five EU envelope companies; in a statement, Commissioner Margrethe Vestager said the case would be of interest to “anyone who is writing Christmas cards.”

”On this case we have closed the envelope, sealed it and returned it to the sender with a clear message: don’t cheat your customers, don’t cartelize,” Vestager said.

According to reports, Hamelin, based in France, received the harshest fine of nearly $6.2 million. Germany’s Mayer-Kuvert, Spain’s Tompla, France’s GPV and Sweden’s Bong were also fined. The Commission said executives at the firms coordinated golf outings to discuss prices. And investigation was launched in 2010 based on an anonymous tip, say reports.

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