AGC Automotive Europe Receives Decision from European Commission regarding Automotive Glass

Date: 14 November 2008
Source: Asahi Glass Co., Ltd.
Asahi Glass Co., Ltd. confirms that, on November 12, 2008, its European subsidiary AGC Automotive Europe SA received a decision from the European Commission concerning anticompetitive behavior regarding the sales of automotive glass to vehicle manufactures in Europe.

The European Commission imposed a total fine of 113.5 million euros (approximately 13.9 billion yen) on AGC Automotive Europe and Asahi Glass.

The European Commission conducted on-site inspections at the premises of AGC Automotive Europe on February 22 and 23, 2005, and in the course of the investigation, the Commission issued a Statement of Objections to AGC Automotive Europe and Asahi Glass on April 18, 2007. Both companies replied to the Statement of Objections concerning automotive glass on July 9, 2007 and have cooperated with the Commission during the investigation.

Asahi Glass and AGC Automotive Europe have not yet received the full text of the Commission decision. Upon receipt, Asahi Glass and AGC Automotive Europe will examine the decision and determine accordingly their future course of action. Asahi Glass will separately announce the impact on its financial results.

CONTACT :

Asahi Glass Co., Ltd.

Toshihiro Ueda

General Manager, Corporate Communications & Investor Relations

Phone : +81-3-3218-5603

Fax : +81-3-3201-5390

E-mail : info-pr@agc.co.jp

 

600450 AGC Automotive Europe Receives Decision from European Commission regarding Automotive Glass glassonweb.com

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