UK glass manufacturer fined millions for price fixing
November 28, 2007 12:00 AM
The European Commission's Competition watchdog today announced it has fined Pilkington, a leading UK's glass manufacturer, €140million for collaborating in a cartel with three other companies in 2004 and 2005.
In response to this decision Sharon Bowles MEP, European Liberal Democrat Spokesperson on Competition, said, "Anyone who tries to cheat the market through price fixing should expect to be caught. The Competition Commissioner has made cartel busting a priority which has so far been very successful.
"The Pilkington Group accounts for around 15% of the UK market, including everyday products such as glass for windows, doors and conservatories. The fixing of prices will have affected thousands of UK customers who will have unknowingly been paying more than they should.
"The four glass manufacturing companies caught in this cartel have been fined a total of €486.9m (£348.2m). Let this be a disincentive for anyone who is considering breaking the competition rules. Once again the UK household can thank the EU for looking after their interests."
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