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Nippon Sheet Glass Fine Could Mean Higher Prices, FT Reports

Post Time:Nov 18,2008Classify:Company NewsView:368

Nippon Sheet Glass Co.´s will reduce investment in equipment at its Pilkington unit after being fined by the European Union´s competition authority, the Financial Times said reported citing Chief Executive Officer Stuart Chambers.

The fines could also lead to higher glass prices, the newspaper reported, citing an interview with Chambers. U.K.- based Pilkington, which was acquired by Nippon in 2006, was fined 370 million euros.

Source: Financial TimesAuthor: shangyi

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