Italy - KME appeals fail, fines of €106.9M for antitrust contraventions in 20... - 0 views
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James Wright on 08 Dec 11The Court of Justice of the European Union rejected both appeals against fines imposed by the European Commission in December 2003 and September 2004 upon KME Germany AG, KME France SAS and KME Italy S.p.A.. The fines related to the KME Group S.p.A. subsidiaries involvement in antitrust infringements within the industrial tubes and plumbing tubes markets. The fines, which amount to €39.8M and €67.1M, are now final. KME Group stated that the fine amounts were wholly provisioned in the profit and loss accounts of the 2003 fiscal year.