Lenzing AG and Palmers Textil Aktiengesellschaft have established a joint venture during the corona pandemic to produce mouth and nose protection and FFP2 masks. Due to the violation of the implementation ban, the fiber producer from Upper Austria has now been fined 75,000 euros.
Last week, Brau Union Austria caused a stir because the Federal Competition Authority filed a request with the cartel court to impose a fine.
On Tuesday morning there was already mail from the cartel court for Lenzing AG in another case. The fiber producer risks a fine of 75,000 euros, while the procedure against Palmers is still ongoing.
The background to the fine is the establishment of Hygiene Austria, which Lenzing and Palmers reported to the Federal Competition Authority on May 11, 2020. The merger was approved on May 26, 2020. But then it turned out that the two companies had already taken operational actions in advance, as a result of which a fine was due.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
