EU Antitrust Watchdog Fines Industrial Chemical Cartel €260M
Law360, London (July 14, 2020, 5:05 PM BST) -- The European Commission said Tuesday it has fined three chemicals and specialty materials companies €260 million ($296 million) after discovering they took part in a cartel plot to fix the price of an industrial chemical.
The commission, the European Union's executive arm, fined the three companies a total of €260 million for violating the bloc's antitrust laws. Orbia, Clariant and Celanese participated in a cartel to drive down the purchase price of ethylene — a flammable chemical used in packaging, electronics and everyday chemical products — the commission said.
A fourth company was granted full immunity for revealing the cartel, allowing it to...
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