Nordic Business Report-September 14, 2006-AB Nynas Petroleum confirms EUR13.5m fine from European Commission
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The Swedish oil company AB Nynas Petroleum confirmed on Wednesday (13 September) that it is one of 13 companies fined by the European Commission for alleged price fixing in the Dutch road building and bitumen supply sectors.
Nynas Petroleum was fined EUR13.5m, which corresponds to approximately 1% of its turnover.
"Nynas, despite strong competition, has been successful on many markets in Europe so we feel particularly sad about being included in an investigation like this one. Unfortunately our own investigation also shows that we have made some mistakes, which we have admitted to the EU Commission," said Staffan Lennstrom, President of Nynas Petroleum.
One euro (EUR) is worth approximately 0.67 British pounds (GBP).
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