Smurfit Kappa Fined by Italian Competition Authority for Alleged Cartel Conduct

The decision follows the market-wide investigation by the Competition Authority officials against approximately 50 companies.

SEATTLE (Scrap Monster): European packaging major Smurfit Kappa’s Italian business unit has been fined €124 million by the Italian Market Competitiveness Protection Authority (AGCM) for indulging in anti-competitive practices.

The decision follows the market-wide investigation by the Competition Authority officials against approximately 50 companies for alleged charges with regards to price- fixing across the paper and packaging industry.

ALSO READ: Smurfit Kappa Unveils Modern Recycling Facility in Italy

The investigation at Smurfit Kappa Italia offices in April 2017 found evidences of the cartel of companies including Smurfit Kappa using informal price list, thereby applying same sales price on products. Also, the cartel held at least eight meetings between 2015 and 2016 to fix prices, the investigation found.

Meantime, Smurfit Kappa stated that it is highly disappointed with the decision and that it will vigorously appeal the decision on both administrative and substantive grounds. Further, it noted that the company is committed to the highest standards of conduct and that it will never tolerate actions that are inconsistent with its values.

• Canadian Gold Cuts High Grades at Former Tartan mine, Manitoba
• CEOs Build New Business Models to Solve the Plastic Pollution Problem
• Negotiators Discuss the Text of Global Treaty to End Plastic Pollution
• 29th April, 2024: Scrap Gold, Silver and Platinum Prices Surged on Index