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Europe Repeals Cartel Fines Against Elementis and the Former Ciba

9:58 AM MDT | July 4, 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The European Commission says it has repealed a November 2009 decision to impose fines on Elementis (London) and the former Ciba Specialty Chemicals for participating in a price-fixing cartel for heat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 until...

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