57The Commission contests the applicant's argument. It contends that the fine imposed on the applicant represents 9% of its turnover during the previous business year. Accordingly, the applicant's assertion that the fine is ‘the highest fine that could legally be imposed on it’ is incorrect since it represents less than 10% of its turnover. It also states that, contrary to the applicant's assertion, not only has it imposed more severe penalties than that imposed on the applicant but, in addition, it has on several occasions reduced the fine imposed on an undertaking in order to comply with the 10% upper limit (Commission Decision 1999/60/EC of 21 October 1998 relating to a proceeding under Article 85 of the EC Treaty (Case No IV/35.691/E-4 — Pre-Insulated Pipe Cartel) (OJ 1999 L 24, p. 1, hereinafter the ‘Pre-insulated pipes decision’), recital 176 (concerning the undertaking Lögstör) and Commission Decision 2002/271/EC of 12 July 2001 relating to a proceeding under Article 81 of the EC Treaty and Article 53 of the EEA Agreement (Case COMP/E-1/36.490 — Graphite electrodes) (OJ 2002 L 100, p. 1), recital 199 (concerning the undertaking UCAR)). Moreover, the Commission rejects the applicant's arguments concerning the disproportional nature of the fine as unfounded.
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