Quinn Group glass cartel fine is cut

Date: 7 December 2011
Source: http://www.rte.ie
The European Court of Justice has reduced a €9m fine against the Quinn Group of companies.The European Court of Justice has reduced a €9m fine against the Quinn Group of companies, which were implicated in a cartel which illegally fixed the price of acrylic glass.

The company, which manufactures plastics used in household appliances, appealed the €9m fine which was imposed in 2006.

The European Commission had taken the case against a number of European companies which it accused of operating a cartel in the 1990s.

The companies were accused of discussing prices, agreeing, implementing and monitoring price agreements and the exchange of commercially important and confidential information.

The case dates back to the 1990s when executives were accused of meeting in a Dublin hotel to exchange sensitive data and fix prices. Following today's judgment the fine was reduced to €8.25m.

Earlier this year, IBRC, the former Anglo Irish Bank, appointed a share receiver to take control of the Quinn family's stake in Quinn Group, which includes the glass business.

Read more: www.rte.ie/news/2011/1130/quinn-business.html

600450 Quinn Group glass cartel fine is cut glassonweb.com
Date: 7 December 2011
Source: http://www.rte.ie

See more news about:

Others also read

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.
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.
The University of Minnesota's historic Folwell Hall completed three years of extensive renovation, just time for the 2011 academic year.
Michael Gai has been named Vice President of Operations at Glass Doctor, following the recent promotion of Mark Liston to President.
We sincerely thank all our members, friends and visitors for being part of GlassOnWeb and its success during 2011.
COLUMBUS, Ohio – Dec. 19, 2011 – Safelite AutoGlass®, the nation’s largest provider of vehicle glass repair and replacement services with a fleet of 6,000, announced it will transition to Ford®.

Add new comment