E.U. Levies €388M Fine In Chemical Cartel Shake-up

Law360, New York (May 3, 2006, 12:00 AM EDT) -- The European Commission has imposed fines of €388 million on seven of nine companies, including some of the biggest names in the global chemical industry, found guilty of running a bleaching chemicals cartel between 1994 and 2000.

“Cartels are unacceptable corporate behavior that deprive customers of the benefits of the Single Market,” said Competition Commissioner Neelie Kroes in a statement. “These high fines take into account that certain companies are repeat offenders. Directors and shareholders alike should ask why these practices were allowed to continue.”...
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