SEC Filing: 3M - Appeal against French reflective sheeting decision not expected
( February 17, 2011, 09:03 GMT | Official Statement) -- MLex Summary: Technology company 3M has said it does not plan to appeal a decision by the French competition authority fining it for abusing its position on the market for plastic reflective sheeting. In December last year, the regulator levied a 1.97 million euro sanction on the company for conducting an "opaque accreditation system and discriminatory rebates" in the sector.On December 4, 2008, the Company’s subsidiary in France (“3M France”) received a Statement of Objections from the French Competition Authority (“FCA”) alleging an abuse of a dominant position regarding the supply of retro-reflective films for vertical signing applications in France and participation in a concerted practice with the major French manufacturers of vertical signs. On December 22, 2010, the FCA issued a decision finding that there was insufficient evidence that 3M France participated in any such concerted practice. The FCA also found that 3M France from 2003 to 2005 abused a dominant position on the French market for retro-reflective films intended for the manufacturing of vertical signs through discriminatory rebates and characteristics of its accreditation system and fined 3M France 1.97 million Euros. While the Company disagrees with the FCA’s decision on abuse of a dominant position, the Company does not plan to appeal. The Company does not expect any additional litigation to arise from the FCA decision....
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