EUROPEAN COMMISSION FINES FASTENERS CARTEL EURO 328 MILLION
September 1st, 2007
BY KEITH NUTHALL
THE EUROPEAN Commission has imposed fines totalling Euro 328 million on six European Union (EU) companies making clothing fasteners and attaching machines, for operating cartels over the past 30 years. Britain's Coats group was fined Euro 122.4 million; Japan's YKK Group Euro 150.2 million; and Germany's Prym Euro 40.5 million, while smaller fines of Euro 6 million were imposed on the USA's Scovill Fasteners Inc; Euro 8.3 million on France's A. Raymond SARL; and Euro 1.1 million on Germany's Berning & Söhne GmbH & Co. KG. Prym received ...
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