EU Court Slashes $7.6M From UPM-Kymmene Cartel Fine

Law360, New York (March 6, 2012, 1:32 PM EST) -- A European court on Tuesday trimmed €5.8 million ($7.6 million) from an antitrust fine for paper giant UPM-Kymmene Oyj that was leveled against the company for its part in a cartel with competitors to fix prices on plastic industrial bags.

UPM, the European Union's second-largest paper manufacturer, was hit in 2005 with a €56.5 million fine for participating in a decades long scheme to fix prices on plastic bags used for industrial products.

But the EU General Court, based in Luxembourg, ruled Tuesday that the company...
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