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Nordic Waterproofing

Nordic Waterproofing

Nordic Waterproofing receives decision from the Danish Competition and Consumer Authority

17:40 / 31 May 2017 Nordic Waterproofing Press release

As previously communicated, i.a. in the 2016 Annual Report, Nordic Waterproofing A/S, a Danish subsidiary of Nordic Waterproofing Holding A/S (STO:NWG.ST), has been under investigation by the Danish Competition and Consumer Authority (the "DCCA") as part of the authority's ongoing investigation of potential restrictions of competition in the Danish market relating to the application of the standard setting organization TOR's product standards for waterproofing products.

Background:
The investigation has been underway since 20 November 2014 and involves several providers of waterproofing products. The inspection was carried out due to the company's involvement in the trade organization Danske Tagpapfabrikanters Brancheforening and especially in the independent trade council TOR (Tagpapbranchens Oplysningsråd). The inspection was carried out as part of the DCCA's examination of the roofing felt industry in Denmark.

If the DCCA's decision is upheld, Nordic Waterproofing A/S could be exposed to a fine as well as civil actions for damages. The company reiterate its view that a potential fine will be calculated based on the current Danish fining guidelines, which is still not subject to firm case law. The claimed violation outlined in the Decision would according to a legal assessment probably constitute a "serious violation". According to the fining guidelines, the basic amount for such a violation would range from DKK 4 to 20 million. 

This information is such that Nordic Waterproofing Holding A/S is obliged to make it public pursuant to the EU Market Abuse Regulation. The information submitted for publication, through the contact person set out below, on 31 May 2017, at 5:40 p.m. CET. 

Nordic Waterproofing is one of the leading providers in the waterproofing market in northern Europe. The Company provides high-quality products and solutions for waterproofing in Sweden, Finland, Denmark, Norway, Belgium, the Netherlands, Poland, the United Kingdom and Germany. Nordic Waterproofing also provides installation services through wholly-owned subsidiaries in Finland, and through part-owned franchise companies in Denmark. The Company markets its products and solutions under nine brands, all with an extensive heritage, most of which are among the most established and well-recognized brands in waterproofing in their respective markets, such as Mataki, Trebolit, Phønix Tag Materialer, Kerabit, Nortett and SealEco. Nordic Waterproofing is listed in the Mid Cap segment on Nasdaq Stockholm with the stock ticker NWG.

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