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CORRECTED-Asahi Glass, Nippon Electric, Schott hit with EU antitrust fine

Post Time:Oct 20,2011Classify:Industry NewsView:308

 

Japan's Asahi Glass and Nippon Electric , and Germany's Schott AG were fined a total 128.74 million euros by EU antitrust regulators on Wednesday for fixing prices of cathode ray tubes glass used in televisions and computer screens.

 

Samsung Corning Precision Materials -- a joint venture between U.S. company Corning and the world's largest television producer Samsung Electronics -- which also took part in the price-fixing was not fined because it alerted the European Commission to the cartel.

 

Asahi received the biggest fine at 45.14 million euros, followed by Nippon Electric's 43.2 million euros and Schott's 40.4 million euros.

 

The Commission said the cartel operated from February 1999 to December 2004, with the companies coordinating prices and sensitive market information.

 

 

Source: ReutersAuthor: shangyi

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