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Panasonic fined £6.5m for compressor competition breach

Panasonic announces European Commission decision on refrigeration compressors

In a statement the company said: “Panasonic Corporation announced today that the Company has received notification of a European Commission (Commission) Decision imposing a fine on Panasonic of £6.5m breach of EU competition law in connection with Panasonic’s supply of refrigeration compressors into the EEA (European Economic Area).

The Commission has been investigating the supply of refrigeration compressors by several compressor manufacturers, including Panasonic, and Panasonic has been fully cooperating in the investigation.

Panasonic is carefully assessing the Commission’s Decision. There shall be no material effect on the financial outlook for the fiscal year ending March 31, 2012 as a result of this payment.

It is the policy of Panasonic to comply with all applicable laws and regulations, including antitrust regulations. The Company takes this matter seriously and will make every effort to maintain the public’s confidence.”

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