SWEDEN/GERMANY - EQT to pay EUR 20.6m in fines to German Competition Authorities

The regulator has uncovered that Munksjö together with Felix Schoeller Holding GmbH & Co. KG and Arjo Wiggins Deutschland, have been working as a cartel by fixing prices and limiting production capacity from August 2005 to November 2007. The previous president of Munksjö, Gunnar Palme, resigned on 27 November due to the accusations.

The board of directors have accepted the fine. According to Swedish press, Munksjö is turning out to be a weak deal for EQT. The company is not delivering on its forecast performance and has reported large losses in recent years.

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