To consider its options and the consequences of an appeal, Aalborg Portland A/S has analysed the judgement by the EU Court of First Instance of 15 March in the proceedings against the company for alleged participation in a market sharing arrangement from 1983 to 1988. The Court lowered the fine originally imposed in 1994 from DKK 30m to DKK 17m (including accumulated interest, from DKK 42m to about DKK 24m). This reflects the fact, as mentioned in the press release on 15 March, that the Court only partly accepted Aalborg Portland's position.
The overall conclusion now reached by Aalborg Portland has been to join several of the other European cement producers whose fines were upheld by the EU Court, in lodging an appeal against the judgement made in March.
President and CEO Peter Assam, Aalborg Portland Holding A/S, comments the appeal decision as follows:
''Having studied the judgement more closely in consultation with our lawyers, it is our opinion that, although EU law does not allow us to appeal the actual assessment of evidence, the Court ought to have taken a different view of several legal aspects. Besides, we consider the size of the fine out of proportion with the alleged action.''
With the present duration of Court procedures, it is expected that it will take between one and two years to consider the appeal.
The approximately DKK 24m fine imposed, including accumulated interest, will be paid when lodging the appeal subject to an action for recovery of the fine if Aalborg Portland's appeal is accepted.
FLS Industries A/S
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