Swiss-based special steel producer and distributor Schmolz+Bickenbach has announced that it has reached an out-of-court agreement with the German Federal Cartel Office regarding its investigations on suspected antitrust practices. As a result of the settlement, the company has agreed to pay a fine of €12.3 million ($13.64 million).
“The agreement is subject to the execution of the planned share capital increase to be approved by the extraordinary general meeting on December 2, 2019,” stated the company.