The Court of First Instance has annulled three anti-competitive trading charges against JCB and ordered a 25% reduction of a GBP25 million (USD45.7 million) European Commission fine.

The court reduced the penalty on January 13 after an appeal by JCB against five charges of anti-competitive behaviour. The court dismissed three of the five charges brought by the European Commission (EC), Europe's anti-competition watchdog. The EC was also ordered to pay 25% of JCB's costs.

The original judgement was delivered in December 2000, finding JCB was acting to hamper competition with dealer agreements.

JCB chief executive John Patterson said the company, which was seeking a full overturn of the original judgement, was considering an appeal to the European Court of Justice.

"Although the judgement vindicates JCB's decision to appeal, we are naturally disappointed the court did not uphold the appeal in its entirety," he said. "We will now be examining the judgement before deciding whether an appeal will be lodged."

- Read the judgement -