NSG Subsidiary Fined by NMa for Alleged Competition Rules Violations

Date: 11 January 2011
Source: Nippon Sheet Glass Co. Ltd.
Nippon Sheet Glass Co. Ltd. ( NSG ) confirms that, as announced by the Netherlands Competition Authority (Nederlandse Mededingingsautoriteit - NMa) on January 6, 2011, its subsidiary in the Netherlands, Pilkington Benelux B.

V., received a decision from the NMa imposing a civil fine on Pilkington Benelux B.V. amounting to Euro 7.46 million (approximately $9.7 million). According to an NSG announcement, the fine relates to alleged violations of Netherlands competition rules within the years 2004/2005 by a number of glass manufacturers in the building glass sector, including Pilkington Benelux B.V.

NSG says it will examine the decision and decide on future action, including a possible appeal.

As detailed in NSG’s annual report and accounts for the year ending March 31, 2010, the announcement notes that the company has previously made a provision of Euro 5 million (approximately $6.5 million) against the estimated fine payment, and will therefore record an additional charge of Euro 2.46 million (approximately $3.2 million) in the group’s third quarter results, scheduled to be announced February 3, 2011. NSG says it does not expect to make a revision of its operating result outlook as a result of this development.

600450 NSG Subsidiary Fined by NMa for Alleged Competition Rules Violations glassonweb.com
Date: 11 January 2011
Source: Nippon Sheet Glass Co. Ltd.

See more news about:

Others also read

Proprietary laminate windows collect, store energy; convert it to electricityRIVIERA BEACH, FL – An innovative new patented technology transforms office building windows into "solar farms" and allows these structures to reuse collected energy and become self-sufficient in the event of a power outage.
DALLAS, Texas, December 22, 2011 /PRNewswire/ --ReportsnReports adds new market research report 'Solar Photovoltaic (PV) Power - Global Market Size, Installation Prices, Module Market Shares, Market Segmentation, Regulations and Key Country Analysis to 2020' to its store.
The University of Minnesota's historic Folwell Hall completed three years of extensive renovation, just time for the 2011 academic year.
Today designers and architects are looking to the hotel bathroom as the new frontier of the guestroom, turning what has long been a mostly functional space into a haven and means of escape.
Glassman as one of the largest glass processing machine manufactures in the world presented ZAK Glass Technology Exhibition during 8-11 December 2011, in Mumbai, India.
The development of ESG’s privacy glass product, ESG Polyvision™, has quite literally reached new heights.

Add new comment