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[January 2009]
Koramic Will File Appeal Against Massive Fine
There has been a response to the news that the German federal cartel office has imposed a regulatory fine of €42 million on Koramic Dachprodukte GmbH & Co KG, a wholly owned subsidiary of Wienerberger AG, for alleged agreements in violation of competition law.
Wienerberger protested and said: “Koramic has neither introduced nor taken part in any agreement or concerted practice with the aim to introduce higher prices in the disguise of special allowance for energy costs, as alleged by the federal cartel office. As a result, Wienerberger is taken aback both by the ruling itself, and the incomprehensible amount of the fine. Koramic Dachprodukte GmbH & Co KG will therefore file an appeal.
“Price agreements are not part of the business practices followed by the Wienerberger Group. They are expressly prohibited by internal guidelines and followed by sanctions. In 2003 Wienerberger already introduced a group wide compliance program to prevent violations against competition law. Free and fair competition represents a central factor for protecting the long-term success of the Group.”
www.wienerberger.com
ENDS