Recticel settled EU findings that it participated in a polyurethane-foam price cartel

Summary

On 29 January 2014, the European Commission found that four major producers of flexible polyurethane foam — including Recticel and the Eurofoam joint venture — had participated in a price-coordination cartel. The conduct occurred from October 2005 until July 2010 and covered flexible polyurethane foam sold for household products such as mattresses and sofas and for automotive applications including car seats. The infringement affected ten EU Member States. The companies coordinated prices for several types of flexible polyurethane foam. The Commission characterised price-coordination arrangements as among the most harmful restrictions of competition. Recticel, Greiner and Eurofoam received a 50% reduction for their cooperation with the investigation and an additional 10% settlement reduction. Recticel reported that its effective total fine, including its 50% share of the amount relating to Eurofoam's conduct, was €26,976,500. Its total legal liability under the decision was structured through separate and joint liabilities involving Recticel, Eurofoam and Greiner. This record uses Recticel's reported effective financial burden rather than presenting the higher joint-and-several liability ceiling as an amount paid solely by Recticel. Sources: Official EU summary — Case AT.39801, Polyurethane foam: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:52014XC1008(01) European Commission cartel-case archive: https://competition-policy.ec.europa.eu/antitrust-and-cartels/cartels-cases-and-statistics_en Recticel Annual Report 2013: https://www.recticel.com/sites/default/files/investors/Annual_half_year_reports/2013/2013_Annual_Report_Full_ENG.pdf