Germany Slams Wood Cos. With $57M In Price-Fixing Fines

Law360, New York (September 23, 2011, 4:48 PM EDT) -- Germany's Federal Cartel Office said Tuesday that it had slapped wood-based products makers Glunz AG, Pfleiderer AG, Kronoply GmbH and Rauch Spanplattenwerk GmbH, as well as 10 individuals, with about €42 million ($56.6 million) in fines for an alleged price-fixing scheme.

Egger Holzwerkstoffe Brilon GmbH & Co. KG also took part in the allegedly illegal “price agreements” but will be immune from fines under the competition authority's leniency program, the cartel office said.

"A customer of the cartel informed the Bundeskartellamt of the possible violations. For...
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