EU Fines Glassmakers €1.3B Over Cartel

Law360, New York (November 12, 2008, 12:00 AM EST) -- A group of automobile glass producers accused of illegal market sharing has been fined a record total of more than €1.3 billion ($1.6 billion) by the European Union’s antitrust watchdog.

The European Commission announced Wednesday it had levied fines - the highest ever imposed - against four of the world’s largest glassmakers: Asahi Glass Co., Pilkington PLC, Saint-Gobain SA and Soliver.

The companies allegedly created a market-sharing cartel that exchanged commercially sensitive information on car-glass deliveries in EU member states in violation of the EC Treaty’s...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.