ISSY-LES-MOULINEAUX, FRANCE--(Marketwire - Dec 5, 2012) -
European Commission Fine - Cathode Ray Tubes industry
The fine follows an investigation led by the European Commission thatstarted inJanuary 2008, into a number of electronic manufacturers, including ThomsonS.A.,relating to a cartel in the Cathode Ray Tubes ("CRT") industry. Thedecision ofthe Commission covers the period 1999-2005 for Thomson S.A.
Technicolor highlights that:
* Thomson S.A. sold its CRT business in 2005;
* The possibility for Technicolor to be fined in this case has beenincluded in the Risk Factors section of its annual report since 2009.
The decision of the European Commission will not impact Technicolor'sobjectivesof Adjusted EBITDA and free cash flow for 2012 announced inFebruary. TheCompany will make a provision for this fine that will result in a loss ofEUR38.6million being recognized as an extraordinary item in the income statementof thesecond half of 2012. Technicolor intends to request a payment schedulefrom theCommission.
Technicolor, a worldwide technology leader in the media andentertainmentsector, is at the forefront of digital innovation. Our world classresearch andinnovation laboratories enable us to lead the market in deliveringadvancedvideo services to content creators and distributors. We also benefitfrom anextensive intellectual property portfolio focused on imaging andsoundtechnologies, based on a thriving licensing business. Our commitment:supportingthe delivery of exciting new experiences for consumers in theaters,homes andon-the-go. Euronext Paris: TCH Ÿ www.technicolor.com
European Commission Fine:http://hugin.info/143597/R/1662787/539020.pdf
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Source: TECHNICOLOR via Thomson Reuters ONE
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- Cathode Ray Tubes
- the European Commission