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France: Forbo to pay US$88 million in antitrust case

By  |  October 22, 2017

Forbo will pay an US$88.4 million fine as a result of antitrust proceedings against major flooring systems manufacturers in France, the Swiss company said.

The antitrust case, which began in 2013. has now been concluded, the Baar-based firm said in a statement issued October. 19.

Forbo said it had made a provision of US$87.2 million for the penalty in its 2017 half-year operating profit.

The group’s “operating power will thus not be negatively affected,” Forbo said, noting a “positive guidance” made in its 2017 half-year report.

As well as floor coverings, Forbo manufactures building and construction adhesives, power-transmission and conveyor-belt products.

The Swiss company generated 2016 net sales of US$1.2 billion and currently employs more than 5,500 people. It operates 24 production facilities and distribution companies and six assembly centers worldwide.

Full Content: Global Competition Review

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