EANS-Adhoc: Klöckner & Co SE: French Court of Appeal reduces fine imposed by anti-trust authority from EUR169 to EUR23.5 million
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
21.01.2010
Duisburg, January 21, 2010 - The French court of appeal (Cour d'Appel de Paris) announced yesterday evening that it significantly reduces the fines imposed by the French anti-trust authority on KDI SAS (a subsidiary of Klöckner & Co SE) and other steel distributors in France.
The fine imposed on KDI SAS in 2008 of EUR169 million has been reduced to EUR23.5 million, of which EUR17.5 million have already been paid. The decision is not yet final and binding, as it can still be appealed to the Cour de Cassation.
The companies were accused of taking part in anti-competitive price-fixings from 1999 to 2004.
The reduction of the fine improves the 2009 group results of Klöckner & Co SE by a total of EUR79 million. The limited effect is due to a compensation claim of Klöckner & Co SE totalling EUR70 million against the previous owners of the Klöckner & Co group resulting from the acquisition of the group in 2005 which is now only used to a small extent.
Issuer: Klöckner & Co SE, Am Silberpalais 1, D-47057 Duisburg ISIN: DE000KC01000; WKN: KCO0100, Common Code: 025808576. Listed: Regulierter Markt / Prime Standard; Frankfurter Wertpapierbörse Further information can be obtained on the webpage of Klöckner & Co: www.kloeckner.de
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Dr. Thilo Theilen - Head of Investor Relations & Corporate Communications
Phone: +49-(0)203-307-2050
E-Mail: thilo.theilen@kloeckner.de
Claudia Uhlendorf - Spokesperson
Phone: +49-(0)203-307-2289
E-mail: claudia.uhlendorf@kloeckner.de
Branche: Metal Goods & Engineering
ISIN: DE000KC01000
WKN: KC0100
Index: CDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade
Original content of: Klöckner & Co SE, transmitted by news aktuell