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Spain: Spanish cartel manipulated International paper prices

 |  September 15, 2015

Spain’s largest paper companies have been agreeing on prices for over a decade, increasing their profits. Prices weren’t only affected in Spain – they colluded in order to modify an international price index in their favor. They would thus manage to raise an indicator which served as an excuse to raise the prices of their own raw materials, by suspiciously similar ammounts.

Spanish companies Saica, Lantero, Santorroman, Cartisa, Cartonajes M Petit and Microlan, with a combined worth of over 2 billion euros and thousands of workers worldwide, are accused of conniving to set shared estimates of tariffs, sent to Brussels for the elaboration of the RISI PPI Europe index.

The result of over a year of investigations, including dawn raids and home inspections, has been a combined fine of 57.7 million euros for 18 companies in the paper sector, as well as for the Cardboard Makers Association (AFCO), all for violations to Europe’s competition law.

Source: Voz Populi

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