The Spanish Bureau of Competition has ruled that Belgian diaper manufacturer Ontex has to pay a 5.15 million euro fine for several breaches of the Spanish and European competition laws. Ontex will appeal the decision.
P&G also has to pay
The Spanish Bureau of Competition, CNMC, launched an investigation into Ontex' operations in September 2014, after supposed price deals and arrangements involving commercial discounts and distribution. Procter & Gamble and P&G's Spanish subsidiary are also mentioned in the investigation and in total, 8 manufacturers were punished for their actions.
In Ontex' case, 3 Spanish subsidiaries were involved, but the company says it does not agree with CNMC's decision and that it will most likely appeal the decision.
Early May, Ontex revealed surprisingly strong financial results for 2016's first quarter. Its turnover grew to 452.4 million euro, much better than analysts' expectations. Particularly its performance in emerging markets was excellent, while it also took full advantage of Mexican Grupo Mabe's integration, which it had previously acquired.