RECYLEX SA: DECISION OF THE EUROPEAN COMMISSION
Post# of 301275
Suresnes, 8 th February 2017: the Recylex Group (Euronext Paris: FR0000120388 - RX) today received the decision by the Directorate-General for Competition at the European Commission following its investigation started in 2012 into anti-competitive practices with regard to purchases of used automotive lead batteries*.
The European Commission decided to impose a fine on several of the European players concerned in the sector, for the period from 2009 to 2012. Accordingly, the fine imposed on Recylex SA and its subsidiaries purchasing used automotive lead batteries comes to a total of € 26 739 000. This amount takes into account a reduction of 30% granted by the European Commission in accordance with the Commission's communication on leniency in 2006.
The decision by the European Commission states that this fine is payable within a period of three months as from formal notification which should be made in the coming days. Recylex is however disappointed by the fact that the European Commission did not take into account its specific financial situation.
The Group will examine this decision in detail with its counsel and will study the impacts thereof on its financial position with its financial partners. All options, including an appeal, will now be studied. For all these reasons, the listing of the Recylex shares will remain suspended until issuance of a follow-up press release.
In October 2012, following the inspection visits by the European Commission, the Group has conducted a training program among its commercial teams to implement the Group's policy on competition law. Recylex has also adopted a robust Code of Ethics and is conducting an extensive training program to reinforce compliance practices across the Group.
* Refer in particular to the Recylex press releases of 2 October 2012 and 24 June 2015.
************************************* Regenerating the urban mine With operations in France, Germany and Belgium, Recylex is a European group specialized in lead and plastics recycling (mainly from automotive and industrial batteries), zinc recycling (from electric arc furnace dust and zinc scrap) and the production of special metals, primarily for the electronics industry. A key player in the circular economy with long-standing expertise in urban waste recovery, the Group has close to 680 employees in Europe and generated consolidated sales of €385 million in 2015. For more information about Recylex Group: www.recylex.fr and on twitter: @Recylex
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Press/Investor contact: Gabriel ZEITLIN + 33 (0)1 58 47 29 89 gabriel.zeitlin@recylex.fr
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