Foam producers fined €114m as EU Competition Commission reaches cartel settlement
By Jaime Jones
On 29 January 2014, the European Commission announced that it had fined four producers of flexible polyurethane foam products a total of €114m (£94m) for their participation in a cartel.
The commission found that Vita, Carpenter, Recticel and Eurofoam operated the cartel for the purposes of co-ordinating the sale prices of polyurethane foam for comfort and technical applications for a five-year period from October 2005 until July 2010, by organising meetings on the margins of European and national associations. The cartelists were also in contact by telephone and other means.
The price co-ordination, which was designed to avoid aggressive price competition and to pass on raw-material price increases of bulk chemicals, affected foam used in products such as upholstered furniture, mattresses and car seats in 10 member states including the UK…
If you are registered and logged in to the site, click on the link below to read the rest of the Shoosmiths briefing. If not, please register or sign in with your details below.
News from Shoosmiths
News from The Lawyer
Briefings from Shoosmiths
Shoosmiths looks at what it could mean for UK businesses if Scotland decides to become an independent country.
Calculating holiday pay is proving to be a hot topic at the moment, with recent employment tribunal and European court decisions hitting the headlines.
Analysis from The Lawyer
Compliance and corporate governance codes for large financial institutions will undoubtedly include provisions to regulate high pay in the future
There’s more to the ABS model than attracting the man in the street and procuring external investment. Partners at the big corporate firms, take note…