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.

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600450 EC Fine Could Shatter Pilkington Profits glassonweb.com
Date: 3 October 2007
Source: Telegraph.co.uk

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