Saint-Gobain SA’s EU Fine Cut to $1.15 Billion to Correct Error

Date: 12 March 2013
Source: www.bloomberg.com

Date: 12 March 2013

Cie. de Saint-Gobain SA’s record European Union cartel fine was reduced to 880 million euros ($1.15 billion), or less than two percent, after regulators said they corrected a calculation error in the original penalty.

Nippon Sheet Glass Co. (5202) unit Pilkington also had its fine cut to 357 million euros from 370 million euros, or 3.5 percent, the European Commission said in an e-mailed statement today.Read more here.Cie. de Saint-Gobain SA’s record European Union cartel fine was reduced to 880 million euros ($1.15 billion), or less than two percent, after regulators said they corrected a calculation error in the original penalty.   

Nippon Sheet Glass Co. (5202) unit Pilkington also had its fine cut to 357 million euros from 370 million euros, or 3.5 percent, the European Commission said in an e-mailed statement today.

Read more here.
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