Pilkington To Pay Fine For Price Fixing

Date: 1 February 2008
Source: Web

Date: 1 February 2008

Nippon Sheet Glass Co. said it will pay a fine of 140 million euros (about 22.5 billion yen) to the European Union for its British subsidiary Pilkington Group Ltd.'s role in an international price-fixing cartel.





Nippon Sheet Glass has already set aside a provision for the payment and thus expects to make no further revision to its earnings projection, the leading flat glass maker said.



Read the Nippon Sheet Glass Co. announcement  here.



In November last year, the European Commission, the executive arm of the EU, fined Pilkington and three other companies a total of 486.9 million euros for forming a price-fixing cartel in the flat glass market in Europe.



The three other companies are Asahi Glass Co. of Japan, Saint-Gobain of France and Guardian of the United States.



The four companies have a combined share of 80 percent or more of the European market for flat glass, which is used for windows, glass doors and mirrors.



Read about the EU fine here.




600450 Pilkington To Pay Fine For Price Fixing glassonweb.com

See more news about:

Others also read

The NSG Group announces that it has made the decision to cease production at one of its two float glass lines at Gladbeck, Germany, as from January 2025.
NSG Group is pleased to announce that Pilkington United Kingdom Limited, part of NSG Group, intends to use green hydrogen at its site and scale its production of low carbon glass from 2027, under pioneering new plans with Grenian Hydrogen.
NSG Group announces that the Group has decided to cease the production on a float line at Weiherhammer site, Germany, ahead of the cold repair planned next year.
NSG Group is pleased to announce the plan to invest in additional TCO (transparent conductive oxide) glass production capacity in the United States to support the growing solar market.
The Annual General Meeting of BV Glas (Bundesverband Glasindustrie) has elected Christian Quenett its President for the next two years.

Add new comment