Business News
EU slaps 128-million-euro fine on makers of TV monitor components
Oct 19, 2011, 10:23 GMT
Brussels - Three makers of components used in the manufactures of television screens and computer monitors - two from Japan and one from Germany - were fined 128.7 million euros (178.2 million dollars) by European Union antitrust authorities on Wednesday.
Japan's Asahi Glass and Nippon Electric, as well as Germany's Schott were found guilty by the European Commission of having taken part in an EU-wide cartel in the market for cathode ray tubes glass between February 1999 and December 2004.
A division of South Korea's Samsung was also involved, but was spared EU penalties because it acted as a whistleblower.
Asahi Glass was fined 45.1 million euros; Nippon Electric 43.2 million euros and Schott 40.4 million euros, the commission said, adding that the figures were reduced by 10 per cent as the three firms all owned up to their offences.
'I commend the companies' readiness to settle which enabled the commission to conclude the case more rapidly and won them a reduction of the fine,' EU Competition Commissioner Joaquin Almunia said in a statement.
COMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
