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Wienerberger AG (WBAG:WIE) - German federal cartel office imposes regulatory fine for alleged cartel agreements on German roof tile producers - Regulatory fine of EUR 42 mill. against Koramic not comprehensible - Price agreements are not part of the Wienerberger business practices
Vienna, December 22, 2008 - The German federal cartel office has imposed a regulatory fine of EUR 42 mill. on Koramic Dachprodukte GmbH & Co KG, a wholly owned subsidiary of Wienerberger AG, for alleged agreements in violation of competition law. Koramic has neither introduced nor taken part in any agreement or concerted practice with the aim to introduce higher prices in the disguise of special allowance for energy costs, as alleged by the federal cartel office. As a result, Wienerberger is taken aback both by the ruling itself, and the incomprehensible amount of the fine. Koramic Dachprodukte GmbH & Co KG will therefore file an appeal.
Wienerberger is committed to fair competition in the interest of its customers Price agreements are not part of the business practices followed by the Wienerberger Group. They are expressly prohibited by internal guidelines and followed by sanctions. In 2003 Wienerberger already introduced a group wide compliance program to prevent violations against competition law. Free and fair competition represents a central factor for protecting the long-term success of the Group.
For additional information contact: Karin Hofmann, Public Relations T +43(1)60192-463 | communication@wienerberger.com
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