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Float manufacturers charged with price fixing

Post Time:Nov 12,2013Classify:Industry NewsView:70

The European Union issued antitrust charges against Japan’s Asahi Glass Co. and its Belgian subsidiary Glaverbel; Japan’s Nippon Sheet Glass Co. and its subsidiary Pilkington, of the United Kingdom; and Saint-Gobain of France, according to a March 15 article from Bloomberg. The companies have two months to reply, according to the article. The EU based charges on information obtained during searches of offices in the U.K., Germany, France, Belgium, Sweden and Italy, and through its leniency program, which cuts fines in exchange for cartel investigation cooperation, according to Bloomberg. Companies can be fined up to 10 percent of global sales, and those found guilty are typically fined 2-3 percent of sales, according to the article. Stock prices Asahi and NSG after European Union regulators accused them of flat glass price fixing, with Asahi falling 2.6 percent, the steepest percentage drop in Japan's Nikkei 225 index, and NSG falling 1 percent, the index's sixth-sharpest drop, according to the article. To read the full March 15 Bloomberg.com article, click here.

-Report compiled by Jane Holtje, Special Projects WriterShare this article:

Source: http://www.glassmagazine.com/news-item/commercial/float-manufacturers-charged-with-price-fixingAuthor:

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