EU Court Slashes Arkema Glass Cartel Fine To €113M

Law360, New York (June 7, 2011, 5:03 PM EDT) -- A European Union court on Tuesday slashed more than €100 million ($147 million) from nearly €220 million ($323 million) in fines Arkema SA and its subsidiaries faced for their alleged roles in an acrylic glass cartel.

The European Commission originally fined four chemical manufacturing groups, including Arkema, €344.5 million in 2006 for fixing prices and exchanging other information about their polymethyl-methacrylate operations, which produce acrylic glass like Lucite and Plexiglas used in consumer products such as electronics,cars, DVDs and lenses.

When it calculated the penalties, however,...
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