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Pilkington loses court fight against 357 million euro EU cartel fine

Published 07/09/2016, 11:29
Updated 07/09/2016, 11:30
© Reuters.  Pilkington loses court fight against 357 million euro EU cartel fine
SGOB
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BRUSSELS - UK glass manufacturer Pilkington Group, now part of Japan's Nippon Sheet Glass Co, has lost its appeal against a 357 million-euro (299.96 million pounds) cartel fine after Europe's top court said EU antitrust regulators had calculated the penalty correctly.

The European Commission handed down a combined fine of 1.35 billion euros to Pilkington, French group Saint Gobain (PA:SGOB) and two other companies in 2008 for price-fixing in the car glass market over a five-year period starting from 1998.

Pilkington subsequently challenged the decision at a lower court, lost and then appealed to the Luxembourg-based Court of Justice of the European Union (ECJ).

The ECJ upheld the EC ruling, rejecting Pilkington's argument that its fine was proportionally higher than the other because it is a less diversified company.

"The Court of Justice finds that it is not contrary to the principles of proportionality and equal treatment that an undertaking ... may receive a fine which represents a proportion of its overall turnover that is greater than that imposed on the other undertakings," judges said.

The fine is the third biggest sanction levied by the Commission.

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