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

Date: 20 October 2011
Oct 19 (Reuters) - 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.

600450 CORRECTED-Asahi Glass, Nippon Electric, Schott hit with EU antitrust fine

See more news about:

Others also read

Asahi India Glass Ltd. (AIS), India’s leading integrated glass company, has come up with an exclusive glass solution called the AIS World of Glass- an app that lets users channel their imagination and visualize glass customizations for their home and office.
High-security Smartphone Feature Stylish Designs - AGC (Asahi Glass Co., Ltd.; Head Office: Tokyo; President & CEO: Takuya Shimamura) released a new cover glass for an in-glass fingerprint recognition sensor installed on a smartphone to improve security.
Asahi Glass' group operating profit for the nine months through Sept. 30 likely rose 22% on the year to around 52 billion yen ($429 million), marking the company's first profit growth for January-September in five years.
“We’ll continue to produce, with simple honesty, what can meet the needs of the times,” Asahi Glass Co.
In light of recent performance trends, Asahi Glass Co., Ltd. (“the Company”) has revised its consolidated financial forecasts for the first half and full year for fiscal year ending December 31, 2015, which were announced on February 6, 2015.   Read more here.
New infoverre product expands the possibilities of the “glass with display monitor” product line ― Asahi Glass Company (AGC), a world-leading manufacturer of glass, chemicals and high-tech materials has released a new infoverre™ product “infoverre™ MIRROR” as an interior product for residential and commercial facilities.  This new product will bring solutions to unique design needs in the world.The infoverre™ series is a new-generation glass signage that provides clear and vivid images to viewers (see next page for details).

Add new comment