EU appeal by Quinn unit fails on €8.25m fine for price fixing
The plastic-manufacturing unit of the Quinn Group has lost an appeal to the European Court of Justice over a €8.25m fine it received for being part of a price-fixing cartel.
The case dates back to 2006, when three Quinn companies in its plastics division were jointly lumped with a €9m penalty by the European Commission when it determined that the firms had been part of a conspiracy to set prices of acrylic glass and had been involved in other anti-competitive behaviour.
The companies – which had originally been part of the Barlo group – had initially been hit with an €18m fine, but because the commission accepted that they only had a "passive and minor" role in the infringement, the fine was reduced to €9m and subsequently to €8.25m.
The Quinn Group –whose manufacturing arm is now controlled by US lenders and Irish Bank Resolution Corporation – purchased the Barlo plastics businesses in 2004 and said it only learned of the cartel probe after the acquisition.
The European Commission fined five companies – Arkema in France, Degussa in Germany, ICI and Licite in the UK, and Quinn Barlo – a total of €344m in 2006.