CHEMICAL CARTEL
January 1st, 2005
BY KEITH NUTHALLTHE EUROPEAN Commission has fined three chemical companies Euro 216.91 million for operating a cartel in monochloroacetic acid production; it makes detergents and thickens cosmetics. The companies concerned included Akzo Nobel, of the Netherlands (Euro 84.38 million); Atofina - now Arkema - of France (Euro 58.5 million); and Hoechst, of Germany (Euro 74.03 million). The fines on Atofina and Hoechst were increased substantially as both had previously been fined for similar illegal behaviour. They were fined after a tip-off from a cartel participant ...
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