Corning has proposed several commitments to the EU to settle an antitrust investigation, aiming to address concerns over exclusivity contracts impacting competition in the glass industry.
The remedies include waiving exclusivity clauses, ensuring future contracts don’t enforce quantity requirements, and limiting patent enforcement to actual infringements rather than breach of contract.
If accepted, these commitments would have a global impact and remain enforced for a minimum of nine years, during which Corning will be under EU scrutiny.
Outside parties can challenge Corning's commitments within six weeks, and violations could result in fines up to 10% of annual revenue, potentially reaching $1.25 billion.
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