A PYMNTS Company

General Court reduces UPM-Kymmene’s 2005 price-fixing fine by 5.8M euros

By  |  March 6, 2012

The General Court has reduced UPM-Kymmene Oyj’s fine by 5.8 million euros (approximately $7.6 million) because the Court found that the company could not be held liable for the cartel before October 1995. FLSmidth & Co. and FLS Plast unit’s fines were also reduced.

    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.

    UPM-Kymmene, Europe’s second-largest papermaker, had been fined in 2005 for price-fixing with 16 competitors in a cartel for plastic bags used for industrial products. With the reduction, the company’s fine is now 50.7 million euros.

    Full content: Bloomberg

     

    Related content: Allocating Cartel Fines Among Companies of a Group (Laura Atlee & Yves Botteman, Steptoe & Johnson)