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AGC Receives Decision From European Commission Regarding Flat Glass
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 Asahi Glass Co., Ltd. confirms that, on November 28, 2007, its European subsidiary AGC Flat Glass Europe SA (formerly Glaverbel) and Asahi Glass received a decision from the European Commission concerning anticompetitive behavior in the flat glass sector in Europe.
The European Commission imposed a total fine of 65 million euros (approximately 10.5 billion yen) on AGC Flat Glass Europe and Asahi Glass.
The European Commission conducted on-site inspections at the premises of AGC Flat Glass Europe on February 22 and 23, 2005, and in the course of the investigation, the Commission issued a Statement of Objections to AGC Flat Glass Europe and Asahi Glass on March 9, 2007. Both companies replied to the Statement of Objections concerning flat glass on May 14, 2007 and have
cooperated with the Commission during the investigation.
Asahi Glass and AGC Flat Glass Europe have not yet received the full text of the Commission decision. Upon receipt, Asahi Glass and AGC Flat Glass Europe will examine the decision and determine accordingly their future course of action. Asahi Glass will separately announce the impact on its financial results.
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November 29th, 2007
Photo: AGC
Source: Asahi Glass |
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