EU fines flat glass cartel 486.9 mln euros

BRUSSELS - Four big makers of flat glass used for windows, doors and mirrors were fined 486.9 million euros ($717.2 million) by European regulators on Wednesday for illegally coordinating price rises and business conditions.

By (Reuters)

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Published: Wed 28 Nov 2007, 4:50 PM

Last updated: Sat 4 Apr 2015, 11:23 PM

The European Commission fined privately held US firm Guardian 148 million euros; Pilkington Plc, the UK unit of Japanese glass maker Nippon Sheet Glass 140 million euros; French producer Saint-Gobain 133.9 million euros; and Belgian-based Glaverbel SA, a unit of Japan’s Asahi Glass Co, 65 million euros.

EU Competition Commissioner Neelie Kroes said in a statement the cartel was discovered with the help of national competition authorities, unlike many cases where one company involved in illicit price-fixing acted as a whistleblower to escape fines.

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