EU Doles Out $155M In Fines For Foam Price-Fixing Cartel

Law360, New York (January 29, 2014, 1:39 PM EST) -- European antitrust regulators slapped several producers of flexible polyurethane foam with fines totaling €114 million ($155 million) for allegedly participating in a cartel that fixed the prices of the material, which serves as padding in car seats, sofas and mattresses, the EU announced Wednesday.

Carpenter Co., Recticel SA and Eurofoam Group — a joint venture between Recticel and Austria-based Greiner Holding AG — were dealt financial penalties from the European Commission based on a conspiracy that allegedly drove up foam prices over a more than four-year period for manufacturers and consumers across 10 EU countries. Another company allegedly involved in the...

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