Germany Fines Chemical Cos. €15M In Cartel Probe

Law360, New York (December 7, 2010, 6:56 PM EST) -- Germany's antitrust watchdog has slapped 12 chemical wholesalers with fines totaling €15.11 million ($20.04 million) as part of an ongoing investigation into alleged cartel activity in the industry.

The regulator, Bundeskartellamt, said Monday that the companies were fined for agreeing to set prices and supply quotas in their distribution of standardized industrial chemicals.

"Until our search in 2007, the German chemical wholesale sector had for decades been characterized by a highly branched network of regional cartels," said Bundeskartellamt President Andreas Mundt. "Now that these practices have...
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