Dec 13, 2014. /Lesprom Network/. Bong AB has reached a settlement with the European Commission. For Bong, this definitively concludes an investigation that has been ongoing since 2010 regarding alleged infringement of European competition law between five envelope companies, during the period October 2003 to April 2008. As a result of the settlement, Bong will pay Euro 3,118,000 to the European Commission, as the company said in the press release received by Lesprom Network.

"It is important for Bong to put this behind us and focus on developing the business. The events that caused the European Commission's investigation are in many cases more than ten years old", says Bong's CEO Stephane Hamelin. "We do not agree with all aspects of the authority’s investigation. However, we have decided to go ahead with a settlement in order to put an end to this process and be able to move on".

By reaching this settlement, Bong can stay focused on business development. The company has developed and launched a comprehensive restructuring program which is currently being rolled out across the Group. Bong expects it to significantly improve the company’s competitiveness and add to growth opportunities. Bong’s new focus lies on specialty packaging, and on expansion into new markets, especially in Eastern Europe.