Saint-Gobain’s $1.2 Billion Fine Said to Be Cut Over EU Error

Date: 31 January 2013
Source: www.bloomberg.com

Date: 31 January 2013

Cie. de Saint-Gobain SA’s record 896 million-euro ($1.2 billion) cartel fine may be reduced by European Union regulators within weeks as officials seek to correct a calculation error, according to two people familiar with the decision.

Regulators will make small reductions in the penalty because they made a mistake in the way they evaluated car-glass sales, said the people, who declined to be identified because the fining process isn’t public.A 370 million-euro fine against Pilkington, a Nippon Sheet Glass Co. (5202) unit, may also be reduced for the same reason, one of the people said.

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