On 15 May, the Competition Authority concluded that Steinullarverksmiðjan had breached the conditions of Competition Council decision no. 19/2002, in particular by providing Húsasmiðjan with information on Nordúrál's terms of trade for rock wool. The conditions were imposed in connection with the acquisition of shares in Steinullarverksmiðjan hf. (now Steinull hf.) by Byko, Húsasmiðjan and Kaupfélag Skagfirðinga. The conditions were intended to prevent the joint ownership of Steinull by Byko and Húsasmiðjan from restricting competition. The Competition Authority considered it appropriate to impose a statutory fine of 20 million krónur on Steinull for this.
Rockwool appealed the Competition Authority's decision to the Competition Appeal Tribunal, which today published its ruling. The panel confirmed that Steinull had breached the decision in question but considered that the infringement was less extensive than the Competition Authority had found, and therefore reduced the fine. The appeal panel's ruling states: „In light of this decision, [Steinull] will be made to pay a lower fine than was decided in the findings. Decision no. 11/2015 and is considered reasonably fixed at 15,000,000 kr. This takes into account that the offence is considered serious in nature and that it was indisputable that the disclosure of information was in conflict with clear instructions.“
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