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EU: Saint-Gobain gets record price-fixing fine reduced

By  |  March 27, 2014

France-based glassmaker Saint-Gobain scored a victory in court Thursday as the EU General Court reduced a record-setting fine imposed on the company for car glass price-fixing.

Reports say Saint-Gobain’s fines have been cut by $227 million from a record-setting $1.2 billion first issued by the European Commission in 2008.

The company was found to have colluded to fix glass car product prices between 1998 and 2003; reports say its fine was particularly large due in part to the firm being a repeat offender.

The EU’s second-highest court ordered a fine reduction as it found that Saint-Gobain’s offenses are “less serious than that found by the commission.”

Saint-Gobain is the EU’s largest building materials supplier in the EU.

Full Content: Bloomberg

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