Subscribe to glassBYTEs!

Pilkington to Appeal EC Price-Fixing Fine

Nippon Sheet Glass Co. Ltd. (NSG) has announced that Pilkington will appeal the European Commission's decision to impose a $464 million ($370 million Euros) fine on it for allegedly price-fixing within the automotive glass sector. (CLICK HERE for related story.)

"As announced on November 13, 2008, the company has made a provision for the estimated payment for the fine," reads the statement from NSG. "Any decision on this appeal is not anticipated to be made during the current financial year. Consequently, the company does not expect the decision to appeal to require any further revision to the company's operating result outlook for this term."

The fines were imposed on Pilkington, Saint-Gobain, Asahi and Soliver for alleged "illegal market sharing and exchange of commercially sensitive information regarding deliveries of auto glass in the European Economic Area (EEA)" in early November.

Need more info and analysis about the issues?
CLICK HERE to subscribe to AGRR magazine.