Mercer falls after EU inspects German factory on cartel concerns

Mercer International

12/10/2021 19:38

** Pulp producer's shares  MERC.O  fall as much as 6% to
$10.82; one of top five pct. losers on S&P 600 Small Cap Index
 .SPCY 
    ** Mercer International says the European Union has
inspected its Germany operations as part of a wider cartel
investigation into the wood pulp industry  urn:newsml:reuters.com:*:nGNX8VN91t
    ** MERC said it is cooperating with the investigation but
did not provide further details of the inspection
    ** MERC's Germany-listed shares  MERC.F  closed 5.6% down
    ** Separately, the European Commission (EC) said it has
conducted unannounced inspections of certain wood pulp companies
on concerns that they may be taking part in a cartel
 urn:newsml:reuters.com:*:nL8N2R82QM
    ** Europe-listed shares of major wood pulp producers closed
lower as they confirmed they had also been inspected by the EU
antitrust regulator
    ** EC did not name the companies; if found guilty, the cos
may be fined up to 10% of their global turnover
    ** EC also said there is no legal deadline for when the
investigation should be completed
    ** Up to Monday's close, MERC stock up 12.3% YTD 

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com;))