EU Smacks Chemical Cartel With €5M In Fines

Law360, New York (June 25, 2008, 12:00 AM EDT) -- Europe's antitrust watchdog bared its teeth Wednesday, fining five companies that make a chemical used in aluminum smelting €4.97 million ($7.7 million) for price-fixing and running afoul of rules governing cartels and restrictive business practices.

The European Commission announced penalties were imposed on aluminum fluoride producers Fluorsid SpA of Italy; Minmet Financing Co. SA of Switzerland; Societe des Industries Chimiques du Fluor of Tunisia; and Industrial Quimica de Mexico SA de CV and Q.B. Industrias SAB De CV, both of Mexico.

Norway's Boliden Odda garnered immunity...
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