Europe Repeals Certain Fines Related to Heat Stabilizer Cartel
1:21 PM MDT | July 19, 2011 | Ian Young
The European Commission says it has repealed a November 2009 decision to impose fines on Elementis (London) and the former Ciba Specialty Chemicals for participating in a price-fixing cartel for heat stabilizers used in the manufacture of polyvinyl chloride. BASF acquired Ciba in 2009. A March 2011 decision by the European Court of Justice in a separate case clarified that the commission’s 2009 decision was “incorrect,” the commission says. Ciba and Elementis participated in the cartel only until 1998, even though the cartel continued to operate...
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