Glaverbel was the European branch of the Asahi Glass Company Flat Glass. It now operates under the name of AGC Flat Glass Europe. AGC Flat Glass is the world's largest glassmaking group. AGC Flat Glass Europe has about 100 production sites throughout Europe and employs some 10700 people.[1] Glaverbel Czech, formerly known as Sklo Union, is the main sponsor of the Teplice located football club FK Teplice.
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History
Glaverbel is founded in 1961 out of the merger of Glaver and Univerbel. In 1972 the French BSN group (now Danone) gained control over Glaverbel. Glaverbel started with a restructuring program and diversified in to glass processing in 1974. In 1981 the Asahi Glass Company of Japan acquired Glaverbel. In 1987 Glaverbel was registered at the Brussels stock exchange and in 1990 expands into Central Europe with the acquisition of Glavunion in Czechoslovakia. In 1997 Glaverbel was the first Western glass producer to invest in Russia. In 2002 Glaverbel was integrated into Asahi Glass and is deregistered from the Brussels stock exchange. In 2007 Glaverbel was renamed into AGC Flat Glass Europe.
Price fixing scandal
AGC Flat Glass Europe (Glaverbel) is one of the four glass manufacturers who were fined a total of 486.9 million euros ($717.5m; £348.2m) by the European Commission on 28 Nov 2007 for illegally co-coordinating price rises.[2] The European Commission said the firm had raised or stabilised prices in 2004 and 2005 through illicit contacts with the other principal glass manufacturers : Guardian of the US, Pilkington, which is the UK unit of Nippon Sheet Glass and Saint-Gobain of France; who between them they control 80% of Europe's market for flat glass [3].
Neelie Kroes, the EU's competition commissioner, said that the EU would "not tolerate companies cheating consumers and business customers by fixing prices and depriving them of the benefits of the single market" [4].
See also
References
- ^ Agc Flat Glass Europe : Profile
- ^ Guardian, Pilkington, Asahi and Saint-Gobain fined for price-fixing
- ^ Antitrust: Commission fines flat glass producers € 486.9 million for price fixing cartel
- ^ Neelie Kroes says that EU will not tolerate companies cheating consumers and business customers by fixing prices
External links
- AGC Flat Glass Europe
- EU Press Office 28 Nov 2007 : European Commission fines flat glass producers € 486.9 million for price fixing cartel
- La Commission Européenne inflige des amendes d'un montant de 486,9 millions d'euros aux producteurs de verre plat pour avoir participé à une entente portant sur la fixation des prix
- European Competition Commissioner Neelie Kroes shatters glass cartel
- BBC World News (28 November 2007) : Price-fixing glass makers fined for illegally co-ordinating price rises
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