Pilkington To Pay Fine For Price Fixing

Date: 1 February 2008
Source: Web
Nippon Sheet Glass Co. said it will pay a fine of 140 million euros (about 22.5 billion yen) to the European Union for its British subsidiary Pilkington Group Ltd.'s role in an international price-fixing cartel.

Nippon Sheet Glass has already set aside a provision for the payment and thus expects to make no further revision to its earnings projection, the leading flat glass maker said.

Read the Nippon Sheet Glass Co. announcement  here.

In November last year, the European Commission, the executive arm of the EU, fined Pilkington and three other companies a total of 486.9 million euros for forming a price-fixing cartel in the flat glass market in Europe.

The three other companies are Asahi Glass Co. of Japan, Saint-Gobain of France and Guardian of the United States.

The four companies have a combined share of 80 percent or more of the European market for flat glass, which is used for windows, glass doors and mirrors.

Read about the EU fine here.

600450 Pilkington To Pay Fine For Price Fixing glassonweb.com

See more news about:

Others also read

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.
Mark Mitchell, Director, Mackenzie Glass
Mackenzie Glass, part of the Cornwall Glass group of businesses has agreed contracts on the acquisition of Pilkington Bristol from NSG.
Restart of the Pilkington Italia Float Line
Monday, 16 October, was an important date for Pilkington Italia, for the community of Venice and for the entire Veneto Region as the warm-up of the new furnace for glass production at Porto Marghera plant commenced.
Pilkington Sunplus™ BIPV powered by Solaria receives IEC Certification
NSG Group’s Architectural Glass Solar Products Certified to Global Design and Safety Standards.
Pleotint is now supplying their Suntuitive® Dynamic Glass interlayer to Pilkington/NSG Europe for use in the Pilkington Suncool™ Dynamic product line.
Pilkington MirroView™
Pilkington North America will exhibit a range of high performance glass products at the Society of Information Display (SID) Display Week at the Los Angeles Convention Center, Los Angeles, CA on May 23-26, 2017.

Add new comment