Close Menu
    Latest Category
    • Finance
    • Tech
    • EU Law
    • Energy
    • About
    • Contact
    EUbusiness.com | EU news, business and politicsEUbusiness.com | EU news, business and politics
    Login
    • EU News
    • Focus
    • Guides
    • Press
    • Jobs
    • Events
    • Directory
    EUbusiness.com | EU news, business and politicsEUbusiness.com | EU news, business and politics
    Home » EU Court imposes fines of EUR 23.44 million on thread cartel

    EU Court imposes fines of EUR 23.44 million on thread cartel

    npsBy nps6 May 2010Updated:9 July 2024 focus No Comments2 Mins Read
    — Filed under: Cartel EU Law - competition
    Share
    Facebook Twitter LinkedIn Pinterest Email

    By Leo Gasteen

    The European Court of Justice (ECJ) has upheld  a EUR 23.44 million fine originaly imposed by the Commission in 2005 on 5 undertakings for their participation in cartels on the industrial threads markets.

    The ruling follows the rejection of an appeal filed on behalf of the 5 undertakings that sought either annulment of the Commission decision or a reduction in their fines.

    The Commission originally imposed a fine of €4.89 million on Amann and Cousin, which were considered to be jointly and severally liable. In addition, the Commission imposed an additional fine of €13.09 million on Amann for its participation in the cartel in Benelux and the Nordic countries. Oxley was ordered to pay €1.27 million. The Commission also imposed a fine of €980 000 on BST, a fine of €4.02 million on Gütermann and a fine of €170 000 on Zwicky.

    All but one undertaking had their original fines upheld with the exception of BST, who was granted a 30% reduction for having  provided the Commission with evidence which substantially assisted the Commission in establishing the infringements

    Background

    The Commission discovered evidence enabling it to conclude that three cartels existed. The first concerned the industrial thread market in the United Kingdom and was not penalised because the imposition of a fine was time-barred. The second cartel – in which Oxley Threads (United Kingdom), Cousin Filterie (France) and Amann & Söhne (Germany) participated from May 1998 to 15 May 2000 – concerns the automotive thread market in the European Economic Area (EEA). The third cartel – in which Belgian Sewing thread (BST – Belgium), Amann, Gütermann (Germany) and Zwicky (Switzerland) participated, from January 1990 to September 2001 in the case of BST, Amann and Zwicky, and from January 1990 to November 2000 in the case of Zwicky – concerns the industrial thread market in Benelux and the Nordic countries.

    European Court of Justice – Justice and Application – Fullt Text

    Add A Comment
    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    nps
    • Website

    Related Content

    Job interview recruitment - Photo by Edmond Dantès on Pexels

    How to Improve Your Search for Better Marketing Talent

    Credit card terminal - Photo by Yan Krukau on Pexels

    How to Reduce Payment Processing Fees in Your Business

    Black Banx

    The Best Banking Solutions for Digital Nomads in 2025

    Business proposals - Image by Ronald Carreño from Pixabay

    Win more business: why small companies need better proposal tools

    Gaming online casino - Photo by Aidan Howe on Pexels

    A Top Level Comparison: Canada vs. the EU Regulatory Environment for Online Casinos and Gambling

    Investing - Photo by Campaign Creators on Unsplash

    Opportunities for savvy investors in the rental market

    LATEST EU NEWS
    Investment - Photo by Anna Tarazevich on Pexels

    EU agrees on shorter settlement cycle for securities trading

    18 June 2025
    Trade front loader beside intermodal containers - Photo by Chanaka on Pexels

    MEPs seal deal with Council to simplify EU carbon leakage instrument

    18 June 2025
    Euro - ECB-Photo by Mika Baumeister on Unsplash

    Jittery markets await Fed as Middle East conflict rages on – Euro currency news daily

    18 June 2025
    Health research - Photo by National Cancer Institute on Unsplash

    EU awards EUR 721m funding for cutting-edge research

    17 June 2025
    mobile-phone-Smartphone - Image by Dariusz Sankowski from Pixabay

    Brussels proposes cheap calls for Ukrainians in EU from 2026

    17 June 2025

    Subscribe to EUbusiness Week

    Get the latest EU news

    CONTACT INFO

    • EUbusiness Ltd 117 High Street, Chesham Buckinghamshire, HP5 1DE United Kingdom
    • +44(0)20 8058 8232
    • service@eubusiness.com

    INFORMATION

    • About Us
    • Advertising
    • Contact Info

    Services

    • Privacy Policy
    • Terms
    • EU News

    SOCIAL MEDIA

    Facebook
    eubusiness.com © EUbusiness Ltd 2025

    Design and developed by : 

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Lost password?