for Price-Fixing to Remain within the EC
On November 28 the European Commission (EC) fined four glass manufacturing
companiesAsahi Glass Co., Guardian Industries, Pilkington
(part of the NSG Group) and Saint-Gobaina total of EUR 486.9
million (approximately USD $719.2 million) for price-fixing (CLICK
HERE to read related article). According to the EC's statement
the fines were imposed because the companies "coordinated price
increases and other commercial conditions for deliveries of flat
glass used for windows, glass doors and mirrors within the European
Since the announcement, questions have surfaced as to where the
money, once collected from the manufacturers, will go? Will it be
distributed back to customers?
According to Mattias Sundholm, acting spokesperson/acting head,
press and public diplomacy for the Delegation of the European Commission
to the U.S., the money stays within the EC.
"All fines levied on cartel cases go into the EU budget," says
Sundholm, "thereby reducing member state contributions and ultimately
In addition, information on the EC's website states: "Any person
or firm affected by anti-competitive behavior as described in this
case may bring the matter before the courts of the member states
and seek damages, submitting elements of the published decision
as evidence that the behavior took place and was illegal. Even though
the Commission has fined the companies concerned, damages may be
awarded without these being reduced on account of the commission
HERE to learn more.
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