According to a report in The Financial Times, the record collective fine of EUR 1.38BN ($1.7BN) imposed by the European Union competition commission on four autoglass makers is very likely to inflate glass prices. The Financial Times reported citing Stuart Chambers, chief executive of one of the penalised groups, Nippon Sheet Glass. Mr. Chambers told the Financial Times that the huge fine would undoubtedly reduce capital investment and affect prices. In addition, the fine was in breach of EU law by exceeding the 10% limit of a group's turnover. NSG's UK unit, Pilkington, has been ordered to pay £370M for conspiring with French Saint-Gobain, Japanese Asahi Glass and Belgian Soliver to manipulate windscreen glass prices between 1998-2003. The four groups have two and a half months to appeal the decision, which Pilkington is considering.
