RECYLEX SA: DECISION OF THE EUROPEAN COMMISSION
08 Février 2017 - 7:29PM
Suresnes, 8th
February 2017: the Recylex Group (Euronext Paris: FR0000120388
- RX) today received the decision by the Directorate-General for
Competition at the European Commission following its investigation
started in 2012 into anti-competitive practices with regard to
purchases of used automotive lead batteries*.
The European Commission decided to
impose a fine on several of the European players concerned in the
sector, for the period from 2009 to 2012. Accordingly, the fine
imposed on Recylex SA and its subsidiaries purchasing used
automotive lead batteries comes to a total of € 26
739 000.
This amount takes into account a reduction of 30% granted by the
European Commission in accordance with the Commission's
communication on leniency in 2006.
The decision by the European
Commission states that this fine is payable within a period of
three months as from formal notification which should be made in
the coming days. Recylex is however disappointed by the fact that
the European Commission did not take into account its specific
financial situation.
The Group will examine this
decision in detail with its counsel and will study the impacts
thereof on its financial position with its financial partners. All
options, including an appeal, will now be studied.
For all these reasons, the listing of the Recylex shares will
remain suspended until issuance of a follow-up press release.
In October 2012, following the
inspection visits by the European Commission, the Group has
conducted a training program among its commercial teams to
implement the Group's policy on competition law.
Recylex has also adopted a robust Code of Ethics and is conducting
an extensive training program to reinforce compliance practices
across the Group.
* Refer in
particular to the Recylex press releases of 2 October 2012 and 24
June 2015.
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Regenerating the urban
mine
With operations in France,
Germany and Belgium, Recylex is a European group specialized in
lead and plastics recycling (mainly from automotive and industrial
batteries), zinc recycling (from electric arc furnace dust and zinc
scrap) and the production of special metals, primarily for the
electronics industry.
A key player in the circular
economy with long-standing expertise in urban waste recovery, the
Group has close to 680 employees in Europe and generated
consolidated sales of €385 million in 2015.
For more information about
Recylex Group: www.recylex.fr and on twitter: @Recylex
*************************************
Press/Investor
contact:
Gabriel ZEITLIN
+ 33 (0)1 58 47 29 89
gabriel.zeitlin@recylex.fr
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Source: RECYLEX SA via Globenewswire