Memo: Antitrust: Commission welcomes Court of First Instance judgments in needles and other haberdashery products cartel case

The European Commission welcomes the 12 September 2007 judgments by the European Court of First Instance dismissing the action by Prym and partly the action by Coats against the Commission’s decision in October 2004 fining two producers for a Europe-wide hard haberdashery cartel (cases T-30/05 and T-36/05). The Court of First Instance confirmed the existence of the cartel. The CFI, however, reduced the level of fine imposed on Prym from €30 million to €27 million and on Coats from €30million to €20 million. The total fine imposed by the Commission was €60 million; following the CFI judgments that has been reduced to €47 million. Around 80% of the fine has therefore been maintained.

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