NIEUWEGEIN, The Netherlands, May 11, 2012 /PRNewswire/ --
The Netherlands Competition Authority (NMa) has decided to reduce a fine imposed on Ballast Nedam in 2003 in connection with competition infringements between 1998 and 2001. The decision, which comes in response to a provisional ruling by the Netherlands Trade and Industry Appeals Tribunal, lowers the fine to €1.5 million. This is the second substantial reduction in the case: back in 2006 the same fine was cut from €14.5 million to €7.9 million. The NMa's latest decision has now been submitted to the Trade and Industry Appeals Tribunal for a final evaluation. The Tribunal is expected to issue its final ruling in this long-running appeal case in 2012.
Ballast Nedam believes that compliance with legislation and regulations is of the utmost importance. In line with this position, we adhere to a strict and comprehensive Compliance programme, which we document each year in our annual report.
Ballast Nedam has a leading position in construction and infrastructure. The company operates mainly in the Netherlands on integrated and other projects for companies, public authorities and housing consumers, in the fields of mobility, housing, employment, leisure and energy. Ballast Nedam operates internationally in various areas of expertise. Ballast Nedam supplies project, process and contract management in the development, implementation and management phases. The company also provides specialized know-how and skills, and semi-finished and finished products. Ballast Nedam is listed on NYSE Euronext in Amsterdam. The share is included in the Amsterdam Small Cap Index.
SOURCE Ballast Nedam NV