ECJ CONFIRMS FINES ON INDUSTRIAL THREAD CARTEL
May 1st, 2010
BY KEITH NUTHALL
THE EUROPEAN Court of Justice (ECJ) has confirmed Euro EUR23.44 million in European Commission fines on five companies participating in an industrial thread cartel. Within this, judges reduced Belgian Sewing Thread's fine from EUR980,000 to EUR856,800 because of cooperation in the cartel investigation sparking the original fines. These were levied on Germany's Amann & Söhne and Gütermann; Britain's Oxley Threads; and (a lower EUR170,000 fine) on Switzerland's Zwicky.
ENDS
THE EUROPEAN Court of Justice (ECJ) has confirmed Euro EUR23.44 million in European Commission fines on five companies participating in an industrial thread cartel. Within this, judges reduced Belgian Sewing Thread's fine from EUR980,000 to EUR856,800 because of cooperation in the cartel investigation sparking the original fines. These were levied on Germany's Amann & Söhne and Gütermann; Britain's Oxley Threads; and (a lower EUR170,000 fine) on Switzerland's Zwicky.
ENDS
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