Perú: Regulator confirms tissue cartel acting in Peru, Colombia and Chile

Peruvian competition regulator INDECOPI has confirmed the charges against Productos Tissue del Perú SA, local branch of Chilean paper giant CMPC, along with Kimberly Clark, over a far-reaching price fixing agreement involving several tissue paper manufacturers, in what is known locally as the ‘Comfort Cartel’.

CMPC’s Chilean matrix was the first to come forward before that country’s National prosecutors over their role in the price-fixing arrangement. The company has confirmed that it was the Peruvian authorities’ initial inquiries that first led the company to conduct their own internal investigation, leading to their giving themselves up to Chile’s authorities.

The Chilean company’s Peruvian branch has similarly cooperated with authorities under INDECOPI’s leniency program. This is he first time a public case has been started thanks to evidence obtained through the cooperation of a firm directly involved in he investigated crime.

CMPC is being investigated by Chilean authorities over a similar arrangement, in this case involving Swedish multinational SCA (formerly PISA). The cartel is thought to have operated for over 10 years and caused an estimated $500 million dollars in damages to consumers.

Source: El Mostrador

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