European Court Reduces Fine for SGL Carbon
The European Court of First Instance announced its ruling on Graphite Specialties in its proceedings, thereby revising the decision of December 17, 2002 of the European Commission. The European Court reduced the fine by one-third from EUR27.7 million that had been levied against SGL Carbon at that time to EUR 18.45 million. SGL Carbon will determine possible further measures following a careful examination of the ruling and its explanation.
Already at the end of April 2004, the European Court had reduced the EUR 80.2 million fine imposed by the European commission on July 2001 against SGL Carbon's Graphite Electrode business to EUR 69.1 million. At that time, SGL Carbon had appealed the judgment of the European Court to the European Court of Justice, as the European Court had failed to take significant causes of action into account.
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