Lucite International Loses Court Appeal of EU Antitrust Fine
Mitsubishi Rayon Co. unit Lucite International lost a European Union court appeal of a 25 million-euro ($34.5 million) antitrust fine levied for colluding on prices of acrylic glass.
The company failed to show that the EU’s antitrust agency “erred in its assessment,” the EU General Court, the region’s second-highest tribunal, said in a ruling in Luxembourg today.
The European Commission fined four companies 344.5 million euros in 2006 for rigging prices of acrylic glass used in DVDs and cars. Arkema SA (AKE) in June won a 105.8 million-euro reduction from its 219.1 million-fine in the cartel after the EU court ruled the commission had made mistakes in its calculation.
Lucite International, based in Southampton, England, declined to comment on today’s ruling. Amelia Torres, a spokeswoman for the commission in Brussels, said the regulator welcomed the decision.
Mitsubishi Rayon completed the $1.6 billion takeover of U.K. acrylic maker Lucite International Group Holdings Ltd. in 2009.
The case is: T-216/06, Lucite International and Lucite International UK v. Commission.
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