EC Fine Could Shatter Pilkington Profits

The Japanese owner of Britain's Pilkington glassmaking firm is bracing itself for a huge fine – potentially running into hundreds of millions of pounds – as part of a Europe-wide competition probe into the industry.

Nippon Sheet Glass (NSG), which bought Pilkington in June 2006 for £2.2bn, has made a £350m provision in its accounts for a prospective fine from regulators.People close to NSG say they expect to hear the verdict of the European Commission's inquiry into the building products sector within the next few months.A separate investigation of the automotive glass industry may take longer, they said.

Read the entire story on the source link below.

600450 EC Fine Could Shatter Pilkington Profits glassonweb.com

See more news about:

Others also read

Prism Architectural: 7-8 St Martins Place, London
Prism Architectural are pleased to continue their working relationship with Willmott Dixon Interiors on 7-8 St Martins Place, London.
Christian Quenett
On 22 March, during the last General Assembly of Glass for Europe, Dr. Christian Quenett, Head of Architectural Glass Europe Pilkington Deutschland AG (NSG Group), has been elected Chairman of the Board of Directors of Glass for Europe.
Selly Oak Retail Park Next for Bennetts
Aluminium glazing specialists Bennett Architectural have been chosen to work on the NEXT store at at the brand new Selly Oak Retail Park.
Kings College, Wimbledon
Prism Architectural are pleased to announce the appointment by Knight Harwood to deliver the external glazing to Kings College, Wimbledon.
Allegion Acquires Advanced Fire-Rated Glass Products Manufacturer TGP
Allegion, plc, a leading global security products and solutions provider, has acquired Technical Glass Products (TGP) through one of its subsidiaries.
Custom Folding Glass Wall for High-End Restaurant
When designing a three-story restaurant overlooking the Chicago River, a client approached Solar Innovations® for a custom Folding Glass Wall.

Add new comment