Umicore: Monumental 69 million euro fine for French operation’s outright abuse of dominant position
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    Umicore: Monumental 69 million euro fine for French operation’s outright abuse of dominant position

    © Belga
    © Belga

    The Belgian group Umicore, main supplier of laminated zinc products (used principally in the construction of roofing and gutters) in the French construction industry, has received a colossal fine of 69 million euros by the Competition Authority. This is in respect of flagrant abuse of its dominant position under European and national law.

    The group has been found guilty of having “between 1999 and 2007 implementing a trade policy forcing its distributors-dealers, amongst whom there are evidently some French multiple chains (for example Point P, Asturienne, Larivière), to enter into exclusive distribution agreements with it.”

    This was stated in the Competition Authority’s decision, which came into the public domain today (Thursday).

    The stock exchange listing of the Umicore shares was suspended this morning on Euronext Bruxelles, whilst awaiting a communiqué from the company.

    Lars Andersen (Source: Belga)