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Image header Agence Europe
Europe Daily Bulletin No. 9502
Contents Publication in full By article 26 / 34
GENERAL NEWS / (eu) eu/court of justice

14/09/2007 (Agence Europe) - The Court of First Instance has reduced the fines levied on two members of a cartel in the needle industry. Ruling that it should have been granted a reduction because it did not challenge the Commission's accusations, German needle manufacturer Prym won its case and its fine has been reduced from €30 million to €27 million (T-30/05). The Court of First Instance also ruled that the Commission had not supplied enough evidence of British needle and thread manufacturer Coats Holdings' involvement in the cartel beyond 1994 (the cartel is reported to have been active from 1994 to December 1999). Moreover, Coats' is reported to have simply acted as a go-between or facilitator, and its fine should therefore have been further reduced. The fine on Coats Holdings was reduced from €30 million to €20 million (T-36/05). The third member of the cartel, Entaco (United Kingdom), was exempt from any penalties because it alerted the Commission of the price-fixing in line with the 1996 communication on clemency in business cartel cases. (cd)

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