January 29, 2014 / 11:00 AM / 4 years ago

Recticel, Eurofoam, Carpenter fined 114 mln euros for EU foam cartel

BRUSSELS, Jan 29 (Reuters) - European Union antitrust regulators fined foam producers Carpenter, Recticel and Eurofoam 114 million euros ($155.77 million) on Wednesday for taking part in a cartel covering 10 European countries over a five-year period.

World No. 1 foam producer Carpenter received the biggest fine at 75 million euros.

In total Eurofoam, which is a joint venture between Belgian company Recticel and Austria’s Greiner Holding AG, is liable for up to 14.82 million euros, Greiner for up to 24.18 million euros and Recticel up to 39.07 million euros.

British company Vita escaped a 61.7 million euro fine because it alerted the cartel to the European Commission.

The EU regulator said the cartel operated from October 2005 until July 2010 in Austria, Belgium, Estonia, France, Germany, Hungary, the Netherlands, Poland, Romania and Britain.

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