Panasonic Fined $10 Million for Fridge Compressors in Europe Dec 9, 2011

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Panasonic Corp. is being fined €7,668,000 (approx. US$10.2 million) by the European Commission for breach of EU competition law in connection with Panasonic's supply of refrigeration compressors into the EEA (European Economic Area).

The Commission was investigating refrigeration compressors sales by several compressor manufacturers. Panasonic said it was cooperating with the investigation and is now assessing the Commission's Decision. It said there would be no material effect on the financial outlook for the fiscal year ending March 31, 2012 as a result of the payment.

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