Pfleiderer may face a significant fine for breaking competition laws

WSE-listed chipboard producer Pfleiderer may face a fine of up to 10 percent of its revenues as a result of a collusion investigation run by antitrust watchdog UOKiK, Pfleiderer said in a market filing. The alleged collusion concerns an agreement on price fixing and exchange of commercial information concerning the conditions of sale on the market of chipboard and fibreboard in Poland, between Pfleiderer and other producers. UOKiK sent the notification to the European Commission that it expects to rule that the breach of competition laws occurred. “However, given the complexity of the case, it is not currently possible to specify precisely the date of completion of the proceedings and the financial implications of such a decision for Pfleiderer Group and Pfleiderer Wieruszów. In the decision closing the proceedings, UOKiK may impose a fine of up to 10 percent of revenues on the Pfleiderer Group or Pfleiderer Wieruszów within the meaning of tax regulations reached by the company in the year preceding the year of issue of the decision.” In 2016,  consolidated revenue of Pfleiderer group amounted to €960 million.