Nordic Waterproofing A/S finally acquitted from accusations of competition law infringements
The Danish Competition and Consumer authority (Konkurrence- og Forbrugerstyrelsen) decides to finally close the investigation of the roofing felt market. On 12 September 2018, The Danish Competition Appeals Tribunal annulled an earlier decision by the Danish Competition Council and referred the matter back to the Council for reconsideration. By today's decision, the Competition and Consumer authority has finally closed the whole matter without finding any wrongdoing.
At the Danish Competition Council's meeting today, it was decided to discontinue the investigation of the roofing felt market. The matter began 2014 when the Danish Competition and Consumer Authority acted on complaints from competitors. By its decision of 31 May 2017, the Competition Council found that Nordic Waterproofing A/S, Icopal Danmark ApS and two industry associations had used the national industry-based standard ("TOR-anvisningerne") in order to foreclose actual or potential competitors from the market. As a result, the Council ordered TOR to repeal its product standards and the other parties to seize their participation in TOR.
The Council's allegations, however, were based on insufficient grounds and flawed legal reasoning. The Competition Appeals Tribunal, therefore, referred the matter back to the Competition Council in order for the Council to reassess the matter.Today, more than 1½ years later and after 5½ years of investigation, the Competition Council finally closed the matter without finding any competition law infringement or other wrongdoing. The decision was taken on the basis of further investigations and legal analysis and – importantly - explicitly on the basis of the Competition Council's assessment of the matter and the evidence.
Nordic Waterproofing A/S has continuously maintained that it has acted in compliance with all applicable laws.This information is such that Nordic Waterproofing Holding A/S is obliged to make it public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, on April 29, 2020, at 5.00 p.m. CET.
For further information, please contact:
Per-Olof Schrewelius, CFO and investor relations
Telephone: +46 707 82 79 58
E-mail: pos@nordicwaterproofing.com
Nordic Waterproofing is one of the leading providers in the waterproofing market in northern Europe. The Company provides high-quality products and solutions for waterproofing in Sweden, Finland, Denmark, Norway, Belgium, the Netherlands, Poland, the United Kingdom and Germany. Nordic Waterproofing also provides installation services through wholly-owned subsidiaries In Finland and through part-owned franchise companies in Denmark. The Company markets its products and solutions under more than ten brands, all with an extensive heritage, most of which are among the most established and well-recognized brands in waterproofing in their respective markets, such as Mataki, Trebolit, Phønix Tag Materialer, Kerabit, Nortett, SealEco, Distri Pond, SPT-Painting, Taasinge Elementer, RVT and Veg Tech. Nordic Waterproofing is listed in the Mid Cap segment on Nasdaq Stockholm with the stock ticker NWG.