Smurfit Kappa fined €124m by Italian regulator for anti-competitive practices
Cardboard box maker Smurfit Kappa’s Italian subsidiary confirmed on Tuesday that it has been fined €124.0m by the Italian Competition Authority after it found that the company had engaged in anti-competitive practices in Italy.
Smurfit Kappa said that it would book the cost as an exceptional charge for the current year.
The fine came at the end of an investigation that started in early 2017 involving 50 companies (including Smurfit Kappa, DS Smith, Pro-Gest, Laveggia, International Paper and others) for alleged anti-competitive practices.
The antitrust authority accused the companies under investigation of using an informal price list, since at least 2012, that they would use in order to offer the same sales prices for products offered to independent box makers.
Smurfit Kappa said it was very disappointed with the decision of the ICA on many levels and would vigorously appeal the decision on both administrative and substantive grounds.