News reports across the world have been filled with updates and
opinions on the price-fixing fines incurred by Nippon Sheet Glass,
Asahi Glass, Guardian Industries and St. Gobain. Click on the links
below for the latest.
Commission Fine - Building Products Glass Sector
Nippon Sheet Glass Co., Ltd. ( "the Company" ) confirms that,
as stated in the Commission's press release dated 28th November
2007, the European Commission has announced a Decision to levy a
civil fine of Euro 140 million ( JPY 22.5 billion ) against Pilkington
Group Limited ( "Pilkington" ), a subsidiary of the Company.
Glass, Nippon Sheet Glass Rise on Smaller Fine
Asahi Glass Co. and Nippon Sheet Glass Co. surged in Tokyo trading
after Asia's two largest glassmakers were fined a smaller-than-forecast
205 million euros ($304 million) by the European Union for price-fixing.
Says EU Fine Won't Change Provision Level
French building materials group Saint-Gobain will not change
its provision level after being fined by European regulators for
price-fixing, a spokeswoman said on Wednesday.
Shares Higher Lunchtime, But Volatility Continues
Share prices moved higher lunchtime after a volatile morning,
as short-covering and bargain-hunting finally got the better of
the continuing economic uncertainties.
Saint Gobain bucked the trend however, surging into positive
territory late morning as the European Commission announced it had
imposed a smaller than expected fine of 133.9 mln eur on the group
following its probe into price fixing by flat glass manufacturers.
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