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Thu, Nov 23, 2017 02:41
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EU antitrust regulators raid Mondi, other paper companies

VIENNA (From news reports) -- EU antitrust regulators raided a number of kraft paper and industrial paper sack makers including South Africa's Mondi on Tuesday on suspicion that the companies may have been involved in a cartel.

The European Commission did not name the companies.

Mondi said the EU competition enforcer raided its Vienna office and that it was cooperating with the investigation.

Swedish company BillerudKorsnas AB said it was also targeted in the investigation.

The Commission said this was the second time it conducted such action following raids a year ago. It was not clear if the same companies were involved.

Firms found guilty of price fixing face fines up to 10 percent of their global turnover.

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