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Article: CHEMICAL INDUSTRY/CARTELS : CFI REMINDS COMMISSION OF ITS LENIENCY POLICY.
- Article from:
- European Report
- Article date:
- October 1, 2009
CopyrightCOPYRIGHT 2009 Europolitics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A company that does not dispute its participation, established by the European Commission, in an illegal cartel should be given a reduced fine. On that basis, the Court of First Instance (CFI) decided, on 30 September, to reduce by 10% the fine imposed by the EU executive, in January 2005, on Hoechst AG(1). In contrast, it upheld the fines ordered against the three other firms - Akzo Nobel, Elf Aquitaine and Arkema - involved in a cartel on the monochloracetic acid market(2).
From 1984 to 1999, these companies operated under a concerted agreement to maintain their market shares. They also exchanged price information and reviewed actual sales volumes as well as ...